A surge in XRP ETF filings on August 22, 2025, has heightened expectations for regulatory approval. Major issuers such as Canary, Coinshares, Franklin, 21Shares, Wisdomtree, and Bitwise have submitted amended S-1 filings to the U.S. Securities and Exchange Commission (SEC), signaling potential progress. Grayscale has also filed to convert its XRP Trust into a spot ETF. Analysts, including Bloomberg's James Seyffart, interpret these filings as a response to SEC feedback, suggesting a positive outlook for approval. Ripple CEO Brad Garlinghouse has been a strong proponent of an XRP ETF, and Bloomberg analysts estimate a 95% probability of approval, indicating increased confidence in institutional access to XRP.