The U.S. Securities and Exchange Commission (SEC) has officially accepted Grayscale’s XRP ETF application for review, marking a significant step forward in the regulatory process. This decision suggests that the SEC may be adopting a more open stance towards XRP-related investment products.
SEC Begins Review of XRP ETF Application
FOX Business reporter Eleanor Terrett confirmed that the SEC accepted Grayscale’s 19b-4 application yesterday. This marks the initial phase of the approval process, meaning the SEC has chosen to review rather than outright reject the proposal. Previously, the SEC had a dismissive stance towards Solana (SOL) spot ETF applications, forcing exchanges to withdraw them. However, the acceptance of the XRP ETF application hints at a possible shift in regulatory attitude.
What Comes Next in the XRP ETF Approval Process?
The acceptance of the application officially initiates the review process. The SEC will now evaluate whether to approve or reject the XRP ETF, with the process formally beginning once it is added to the Federal Register. The decision period could extend up to 240 days, and in the coming weeks, the SEC is expected to make the application publicly available.
For XRP investors, this development is a crucial milestone, potentially paving the way for broader adoption and investment opportunities in the digital asset space.
Ripple CEO Brad Garlinghouse Weighs In
Advertisement Banner
Ripple CEO Brad Garlinghouse reacted to the news, emphasizing that an XRP ETF was inevitable. He expressed confidence in this prediction, reinforcing the belief that regulatory clarity for XRP is steadily improving.
The skepticism surrounding XRP ETFs primarily stemmed from the ongoing SEC vs. Ripple lawsuit. However, the acceptance of Grayscale’s application could signal that XRP is overcoming regulatory hurdles.
Potential Impact on the Ripple Lawsuit and Market Sentiment
ETF Store President Nate Geraci called the SEC’s acceptance of the application a pivotal moment for the ongoing Ripple lawsuit. He noted that this move could indicate a reduction in regulatory pressure on XRP.
While the lawsuit remains unresolved, the SEC’s decision to review an XRP ETF application suggests that its influence on the market may be diminishing. Many within the XRP community see this as a potential precursor to favorable regulatory shifts in the near future.
For the latest updates on this and other crypto developments, follow The Bit Journal.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
