Institutional interest in XRP products has surged, highlighted by recent filings for XRP exchange-traded funds (ETFs) from several financial firms. Notably, 21Shares filed an S-1 application for a spot XRP ETF on the Cboe BZX Exchange, with the Coinbase Custody Trust Company designated as the custodian. This filing is part of a broader trend, as four issuers have submitted applications for institutional XRP products in the last month, coinciding with the SEC's appeal in the Ripple case. The developments come as XRP's price has recently dipped to three-month lows, suggesting a volatile market environment. Ripple CEO Brad Garlinghouse emphasized the strong institutional interest, indicating a positive outlook despite regulatory challenges.