21Shares US is awaiting approval from the U.S. Securities and Exchange Commission for its proposed spot XRP ETF, as market attention around the product continues to build. The company has not provided a launch timeline, leaving the potential debut dependent on the pace and outcome of the SEC review process.
Standard Chartered Selected as Custodian
As part of its preparation, 21Shares has appointed Standard Chartered as the digital asset custodian for the fund. The move signals an effort to strengthen the product’s institutional-grade security and operational setup. In the ETF market, custody arrangements are often closely watched because they play a central role in asset protection, compliance readiness, and investor confidence.
XRP ETF Race in the U.S. Is Getting More Crowded
The filing also comes as competition in the U.S. XRP investment product market becomes more intense. According to the report, XRP ETFs from Canary, Franklin, and Grayscale have already launched, underscoring rising demand for regulated XRP exposure. That growing lineup suggests issuers are moving quickly to capture market share in a segment that is becoming increasingly active.
More broadly, 21Shares’ pending application highlights continued interest in XRP-based investment vehicles. While the final decision and launch timing remain in the hands of the SEC, the expanding field of issuers points to a broader trend: the U.S. crypto ETF market is evolving toward greater specialization and a wider range of asset-specific products.