The NYSE Arca filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale XRP Trust, marking a significant moment for the cryptocurrency market. The proposal was amended on February 10, 2025, signaling changes to the original filing. While this notice does not guarantee approval, it indicates that the SEC is actively reviewing the proposal and seeking public feedback before making its decision.
The SEC’s acknowledgment of the XRP ETF filing has caught the attention of industry insiders, including Nate Geraci, president of the ETF Store. He expressed his surprise that more people aren’t discussing this development, given the ongoing legal battle between the SEC and Ripple. The case, which was recently moved to the “Court of Appeals” section, continues to stir speculation about a possible resolution. Despite the ongoing litigation, the SEC’s review of the XRP ETF proposal is a notable step forward in the approval process.
Fox Business reporter Eleanor Terrett emphasized that the acknowledgment does not equate to automatic approval but does reflect a more open-minded approach by the SEC, which previously rejected similar filings, such as the Solana (SOL) ETF in December 2024. Bloomberg’s ETF analyst, James Seyffart, also weighed in, noting that under previous SEC leadership, the proposal would likely not have even been acknowledged.
Once Grayscale’s XRP ETF filing is published in the Federal Register, it will enter a 240-day approval window. Alongside Grayscale, other asset managers like Cboe have filed for spot XRP ETFs, signaling growing interest in XRP-based financial products.
Meanwhile, the SEC also acknowledged Grayscale’s Dogecoin (DOGE) ETF filing, another positive sign for altcoins seeking regulatory approval. This development highlights a shift in the SEC’s stance on cryptocurrency ETFs, offering hope for the future of both XRP and DOGE products in the market.
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As the SEC continues its review, the outcome of these filings could have a profound impact on the crypto market, shaping the future of cryptocurrency ETFs.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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