Rising institutional demand for crypto exposure is driving a wave of new XRP exchange-traded funds (ETFs) ahead of Thanksgiving. Issuers are introducing new XRP ETFs as they position products for investors seeking regulated access to the asset. Several managers have scheduled launches clustered around Monday.

Ripple CEO Brad Garlinghouse stated on Nov. 20 on social media platform X:

The pre-Thanksgiving rush (shall we say, ‘turkey trot’!?) for XRP ETFs starts now.

He also congratulated asset manager Bitwise on launching an XRP ETF (NYSE: XRP) last week. Bitwise’s debut followed the rollout of the Canary Capital XRP ETF (Nasdaq: XRPC), which began trading Nov. 13. Garlinghouse’s comments aligned with expectations that Grayscale’s XRP ETF and Franklin’s XRP ETF will start trading Nov. 24.

Grayscale’s recent filing with the U.S. Securities and Exchange Commission (SEC) details the structure of the forthcoming GXRP product, including continuous issuance, reliance on an arbitrage mechanism involving authorized participants, and pricing that references Coindesk’s XRP CCIXber Reference Rate. The Trust outlines custody handled by Coinbase Custody Trust Company LLC and the current use of cash-based creations and redemptions until in-kind approval is considered. Franklin Holdings LLC recently filed Amendment No. 3 to its Form S-1 registration statement with the SEC for its Franklin XRP ETF, sponsored by Franklin XRP Trust. The proposed ETF, expected to list on the NYSE Arca under ticker XRPZ, similarly aims to track the XRP market using the CME CF XRP-Dollar Reference Rate — New York Variant.

Read more: XRP ETF Countdown in Full Swing After 21shares and Franklin Submit SEC Amendments

Bloomberg ETF analyst James Seyffart shared on X last week:

Our base case is that Grayscale’s XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF. And I think the Franklin’s XRP ETF could go live on Monday the 24th as well. Lots happening next week.

Other managers are adding to the momentum. The 21shares XRP ETF, anticipated to list on Cboe BZX Exchange, intends to track the CME CF XRP—Dollar Reference Rate and allocate XRP across custodians such as Coinbase, Anchorage Digital Bank, and Bitgo. Broader ETF availability could deepen liquidity for XRP and provide clearer pricing signals. Supporters of crypto argue that regulated ETFs improve transparency, reduce friction compared with offshore venues, and expand institutional pathways into digital assets.

• Why are multiple XRP ETFs launching right before Thanksgiving?
  Issuers are clustering launches around Nov. 24 to capture accelerating institutional demand for regulated XRP exposure during a period of heightened market attention.
• How do the upcoming Grayscale and Franklin XRP ETFs strengthen institutional access?
  Both products offer SEC-registered structures, recognized benchmark pricing, and trusted custodianship—key elements institutions require for compliant, scalable digital-asset allocations.
• What market advantages could broader XRP ETF availability create?
  The expansion of XRP ETFs across major exchanges increases liquidity depth, improves pricing signals, and lowers operational friction for large investors seeking diversified crypto exposure.
• Why is the current ETF wave viewed as a bullish signal for XRP investors?
  The synchronized rollouts from top issuers like Grayscale, Franklin, Bitwise, and 21shares signal confidence in XRP’s maturing market structure and growing demand from traditional finance stakeholders.

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