{"id":45923,"date":"2025-09-05T12:01:37","date_gmt":"2025-09-05T12:01:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45923"},"modified":"2025-09-05T12:01:37","modified_gmt":"2025-09-05T12:01:37","slug":"secret-talks-hint-at-spot-xrp-and-dogecoin-etfs-closer-than-ever","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45923","title":{"rendered":"Secret Talks Hint At Spot XRP And Dogecoin ETFs Closer Than Ever"},"content":{"rendered":"
\n

The race to standardize how US exchanges list spot crypto ETFs appears to be entering its endgame, with quiet but coordinated rule-filing tweaks that could unlock single-asset products beyond bitcoin and ether\u2014most notably XRP and Dogecoin.<\/p>\n

On X, chairman and president of The ETF Store Nate Geraci captured<\/a> the mood among issuers and exchanges: \u201cMajor exchanges continue to quietly work w\/ SEC behind the scenes on generic listing standards for spot crypto ETFs\u2026 Given final deadlines on existing spot crypto ETF filings, [it\u2019s] reasonable to expect this would be in place by early October. Then crypto ETF floodgates open.\u201d<\/p>\n

Why Spot XRP And Dogecoin ETFs Are Closer Than Ever<\/h2>\n

What\u2019s changed is not a splashy Commission order, but the methodical convergence of three national exchanges\u2014Cboe BZX, NYSE Arca, and Nasdaq\u2014on nearly harmonized generic listing standards (GLS) for Commodity-Based Trust Shares. Their proposals would allow qualifying commodity ETPs\u2014including those that hold \u201cdigital asset commodities\u201d\u2014to list without bespoke 19b-4 approvals each time, provided the products meet prescriptive criteria and the exchanges maintain robust surveillance. NYSE Arca\u2019s new Rule 8.201-E (Generic), Nasdaq\u2019s amendments to Rule 5711(d), and Cboe\u2019s overhauled Rule 14.11(e)(4) all point the same direction: make spot crypto ETF approvals systematic rather than one-off, while preserving market-integrity guardrails.<\/p>\n

A key technical edit running through the filings is how the term \u201ccommodity\u201d is defined. Greg Xethalis, General Counsel at Multicoin Capital, revealed the secret talks today via X: \u201cCBOE BZX, the NYSE and NASDAQ today filed amendments to their Commodity-Based Trust Shares ETP Generic Listing Standards.<\/p>\n

The amendments largely touch on a technical edit to remove \u2018excluded commodities\u2019 from the definition of \u2018commodity\u2019 in the GLS,\u201d a belt-and-suspenders move that prevents accidental sweep-in of instruments like interest-rate indexes or currencies under the Commodity Exchange Act\u2019s \u201cexcluded commodity\u201d heading. Nasdaq\u2019s filing spells it out, carving those out explicitly and even footnoting the CEA \u00a71a(19) definition to show what\u2019s out of scope.<\/p>\n

Equally important is the futures-market seasoning test many view as the \u201con-ramp\u201d for new spot products. Cboe\u2019s proposal requires that, among other pathways, the underlying asset underlie a futures contract that has been made available to trade on a Designated Contract Market for at least six months and that the exchange has a surveillance-sharing agreement with that DCM. In practice, the \u201cmade available to trade\u201d phrasing anchors the six-month clock to the contract\u2019s listing\/availability date and aligns with the surveillance logic the SEC has leaned on since the 2024 spot-BTC and spot-ETH approvals<\/a>.<\/p>\n

ETF Applications In The Queue<\/h2>\n

Against that backdrop, the XRP and Dogecoin dockets are already deep into the 19b-4 pipeline\u2014so standardized listing rules arriving in late September or early October would collide almost perfectly with several final statutory deadlines:<\/p>\n

For XRP, several separate spot filings<\/a> illustrate the cadence. On Nasdaq, the CoinShares XRP ETF (SR-NASDAQ-2025-012) was published in the Federal Register on February 25, 2025, with proceedings instituted on May 29 and the period for action extended again on August 21; under Exchange Act timing, the 240-day outside date from publication lands on October 23, 2025.<\/p>\n

On NYSE Arca, Grayscale XRP Trust (SR-NYSEArca-2025-08) hit the Register February 20, 2025; the SEC noted the 180th day as August 19\u2014placing the 240-day outside date on October 18, 2025. Cboe BZX\u2019s Canary XRP Trust entered the queue with publication on February 25, 2025, likewise pointing to an October 23, 2025 outside date. These are classic 19b-4 listing files; S-1 registrations must still go effective before any shares trade.<\/p>\n

For Dogecoin, multiple spot proposals<\/a> provide similar waypoints. The Bitwise Dogecoin ETF on NYSE Arca was issued March 17, 2025, setting a 240-day outside date of November 12, 2025. On Nasdaq, the 21Shares Dogecoin ETF notice was published May 19, 2025, implying an outside date of January 14, 2026. Grayscale\u2019s Dogecoin Trust filed an S-1 on August 15, 2025, disclosing that NYSE Arca lodged its companion 19b-4 on January 31, 2025\u2014evidence issuers have been preparing both legs of the approval stool.<\/p>\n

The upshot: if the SEC blesses the generic listing standards on the schedule the industry now expects, the calendar neatly lines up with XRP\u2019s October 18\u201323 outside dates\u2014and Dogecoin\u2019s November 12 follow-on\u2014creating exactly the \u201cfloodgates\u201d window Geraci described.<\/p>\n

At press time, XRP traded at $2.81.<\/p>\n

\"XRP<\/div>\n","protected":false},"excerpt":{"rendered":"

The race to standardize how US exchanges list spot crypto ETFs appears to be entering its endgame, with quiet but coordinated rule-filing tweaks that could unlock single-asset products beyond bitcoin and ether\u2014most notably XRP and Dogecoin. On X, chairman and president of The ETF Store Nate Geraci captured the mood among issuers and exchanges: \u201cMajor […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-45923","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45923"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45923\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}