21Shares and Franklin Templeton Trigger SEC Countdown for Spot XRP ETFs as Bitwise Fast-Tracks Dogecoin Fund Toward Late-November Launch

Multiple crypto ETF filings under Section 8(a) set 20-day automatic-effect clocks

TL;DR

• 21Shares’ amended filing for a spot XRP ETF activates a 20-day SEC review window that could make the fund effective around Nov. 27 if no intervention occurs.
• Franklin Templeton’s XRP ETF appears on the DTCC listing while Bitwise’s Dogecoin ETF follows the same 8(a) path, targeting roughly Nov. 26 for automatic approval.
• XRP rose 5% to $2.32 and DOGE prepares for institutional exposure as analysts warn volatility remains high despite ETF optimism.

Market watchers are bracing for a potential double milestone in digital-asset investing after three major firms—21Shares, Franklin Templeton, and Bitwise Asset Management—filed regulatory triggers that could push new crypto funds live before the end of November. The filings, submitted under Section 8(a) of the U.S. Securities Act of 1933, initiate a 20-day automatic-effect period unless the Securities and Exchange Commission (SEC) steps in to delay or block them.

21Shares set the process in motion with its Amendment No. 3 to Form S-1 for a proposed spot XRP ETF, sending the token’s crypto price up nearly 5% within an hour to about $2.32 on Nov. 8. The form’s 20-day window means the ETF could automatically go effective around Nov. 27 if the SEC remains silent. Bloomberg’s Eric Balchunas highlighted the timing on X, saying the countdown “is now officially in motion,” while trader Scott Melker added that the product could “go live by month’s end barring any SEC action.” The move aligns with mounting institutional interest, as Franklin Templeton and Grayscale have also advanced spot XRP ETF plans this quarter, hinting at a coordinated rollout across issuers.

Franklin Templeton’s product, listed as ticker XRPZ, has already appeared on the Depository Trust & Clearing Corporation (DTCC) website—an early procedural signal that the infrastructure for trading is being readied even before official approval. As of Nov. 7 (22:47 UTC), XRP traded at $2.33 with a coin market cap of roughly $140.26 billion, commanding 4.02% market dominance and $5.92 billion in daily turnover, according to Coincu data. The token’s daily gain of 5.52% contrasted with a 19.53% decline over the past 30 days, underscoring volatility even amid optimism. Franklin Templeton’s analysts noted that an approved ETF “may substantially boost XRP’s market position, underpin a sustained rise in demand, and magnify market dynamics akin to those seen following the introduction of other asset-based ETFs.”

While the XRP filings dominate headlines, Bitwise Asset Management has adopted the same strategy for a proposed spot Dogecoin ETF, removing the delaying amendment from its S-1 registration to trigger a similar 20-day countdown. That timing puts a potential launch around Nov. 26, assuming no SEC objection. The fund would hold Dogecoin directly, with Coinbase Custody managing token storage and BNY Mellon handling cash balances. “Bitwise is doing the 8(a) move for their spot Dogecoin ETF, which basically means they plan on going effective in 20 days barring an intervention,” Balchunas posted. The structure marks one of the first attempts to package a meme-coin within a fully regulated ETF wrapper, signaling that even high-volatility tokens are edging toward mainstream investment products.

Institutional momentum around these filings extends a pattern observed since mid-2025, when the SEC postponed earlier reviews of 21Shares and CoinShares’ applications. Analysts have pointed to November as a decisive window for approvals that could reshape the broader crypto price index, with speculative inflow projections reaching $5 billion in the first month after launch. The combined activity from blue-chip issuers and rising crypto price reactions suggests that traditional finance is accelerating its bridge into digital assets. Whether the SEC’s silence translates into automatic approval or last-minute intervention will determine if the market’s late-November expectations become reality—or just another pause in the long road toward U.S. crypto ETF maturity.

This article has been refined and enhanced by ChatGPT.