Ripple Applies for U.S. Bank Charter as XRP ETF Decision Stalls

Ripple has filed for a U.S. federal bank charter on Tuesday, signaling a major strategic shift. Meanwhile, the SEC has paused decisions on converting XRP, Solana, and Cardano into ETFs.

Here’s what it all means for investors.

Ripple Seeks U.S. Bank Charter as SEC Slows XRP ETF Approval

In a bold regulatory move, Ripple has formally applied for a federal bank trust charter with the Office of the Comptroller of the Currency (OCC), signaling its intention to embed deeper into the U.S. financial system.

The announcement sent XRP up more than 3%, signaling renewed investor confidence amid a climate of legal and regulatory uncertainty.

If approved, Ripple would become one of the few crypto-native firms with a national trust bank license, joining the likes of Anchorage Digital Bank.

The charter would allow Ripple to act as a qualified custodian for crypto assets, opening new doors in regulated financial services, particularly in custody, payments, and tokenized securities.

“This is a strategic step toward regulatory legitimacy,” said one industry insider. “If Ripple becomes a federally chartered institution, it could be a game-changer for XRP’s institutional adoption.”

SEC Hits Pause on XRP, Solana, Cardano ETF Conversions

In a separate development on July 2, the Securities and Exchange Commission (SEC) announced a delay in decisions on converting existing Grayscale trusts for XRP, Solana (SOL), and Cardano (ADA) into spot ETFs.

These rulings were expected as part of Grayscale’s broader push to bring more altcoins into mainstream financial products.

The SEC has requested public comments on the proposals, a common stalling tactic that signals a prolonged regulatory timeline.

Investors and analysts alike are reading this as a mixed signal: interest in crypto ETFs is heating up, but political and legal pressures continue to slow the approval process outside of Bitcoin and Ethereum.

Why This Matters: Ripple’s Banking Bid vs ETF Delays

This double-pronged news day underlines the regulatory fork in the road for crypto in the U.S.:

• Ripple’s application shows ambition to work within the system, aligning with federal oversight to provide regulated services.
• The SEC delay on ETFs underscores hesitation to expand institutional crypto access beyond BTC and ETH.

What’s Next for XRP and Altcoin ETFs?

While the price of XRP jumped to around $2.28 on the bank charter news, the ETF delay is likely to cap momentum in the short term.

Here’s what to watch:

• OCC response to Ripple’s charter — could arrive in Q3 or Q4 2025.
• Public comment window for the ETF proposals — expected to last at least 30 days.
• SEC’s final decision on Grayscale conversions — now likely delayed into fall.

Investor Takeaways

• Ripple’s move signals long-term regulatory commitment and may position XRP for broader institutional use.
• ETF delays are frustrating, but not rejections — they reflect the SEC’s caution rather than disinterest.
• Watch for increased altcoin market volatility as retail and institutional investors weigh regulatory signals.

📊 XRP Price Update

(as of July 2, 2025 at 11:03 PM ET)

• $2.24 USD
• +0.36% 24H
• Market Cap: $28.3B

FULL COVERAGE: XRP | Cryptocurrency Market