No XRP ETFs Were Approved on May 7, Expert Clarifies

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As the crypto market trades in the green with gains across the board, XRP is also climbing, currently at $2.21, up 2.8% in the past 24 hours. Ripple has been making headlines, and the latest one was because of its bid to acquire Circle. ETF talks have also taken center stage, and analysts have raised the chance of a spot XRP ETF being approved in 2025 to 85%,

There were speculations that Tuttle Capital’s 2x LONG XRP ETF went live on May 7. However, crypto influencer John Squire quickly cleared the air. He shared a copy of the SEC filing, which shows that the proposed effective date is May 21, 2025.

Tuttle Capital had filed with the SEC to launch 10 different leveraged crypto asset ETFs. This was the first-ever ETF application in the US for tokens like Chainlink and Polkadot, which shows growing institutional interest beyond Bitcoin and Ethereum.

Bloomberg ETF analyst James Seyffart had commented on Tuttle Capital’s recent filings for 10 leveraged crypto ETFs, including those tied to assets like XRP, Solana, and even meme coins such as TRUMP and MELANIA.

He views these filings as “a case of issuers testing the limits of what this SEC is going to allow”. Seyffart explained that the newly established SEC Crypto Task Force will play a key role in determining which of these products may receive approval.

Polymarket betting platform currently shows 77% chances of a spot XRP ETF approval this year. There are conversations about BlackRock’s growing interest in XRP, with rumors of “big news” ahead.