BOOM! MULTIPLE ‘XRP ETF’ Filings Acknowledged By The SEC ON Wed 19th Feb 2025 BOOM!! +Ripple News:

SEC acknowledges XRP ETF filing from Nasdaq, CoinShares

Bloomberg analysts estimate a 65% probability of approval for XRP ETFs.

Photo: LightRocket

Key Takeaways

The SEC has formally acknowledged Nasdaq’s filing for the CoinShares XRP ETF, allowing a 21-day public comment period.
Other exchanges, like Cboe, are also seeking approval to list and trade shares of XRP ETFs from multiple firms including WisdomTree and Bitwise.

The US SEC has acknowledged Nasdaq’s filing for the CoinShares XRP ETF, opening a 21-day public comment period following the Federal Register publication. This development comes after Nasdaq’s submission of 19b-4 forms to the SEC earlier this month, proposing a rule change to list and trade shares of the CoinShares XRP and Litecoin ETFs.

The acknowledgment confirms that the SEC has received the ETF application. Following the comment period, the regulator will decide whether to approve, disapprove, or initiate further proceedings regarding the proposed ETF.

In recent weeks, the SEC has acknowledged spot XRP ETF filings from 21Shares, Grayscale, and Bitwise. Applications submitted by Canary Capital and WisdomTree are currently awaiting their turn.

While the new development does not guarantee that the SEC will ultimately greenlight those proposed funds, it’s a positive sign that the regulator might be warm to crypto investment products, in contrast to previous instances when SEC reluctance led to the withdrawal of similar applications.

The SEC previously indicated to at least two ETF issuers that they would reject their respective Solana ETF filings and were unlikely to approve any new crypto ETFs under the Biden administration. Given the ongoing legal lawsuit between Ripple Labs and the SEC, XRP ETFs were also thought to be off the table.

XRP currently trades at $2.5 and ranks as the third-largest crypto asset by market capitalization, according to CoinGecko data. Bloomberg ETF analysts James Seyffart and Eric Balchunas assign a 65% probability of XRP ETF approval.

Yet MORE GREAT NEWS:

SEC formally accepts Bitwise’s XRP spot ETF filing

byGermán FrersYesterday

The spot XRP ETF could improve investor access and transparency as it undergoes SEC review.

Photo: Jack Taylor

Key Takeaways

The SEC acknowledged Bitwise’s filing for a spot XRP ETF, starting a review that can last up to 90 days.
The proposed ETF would give investors regulated access to XRP, the native asset designed for cross-border payments.

The SEC acknowledged today a filing for a spot XRP ETF from Bitwise, marking the regulator’s formal review of the proposal.

Cboe BZX Exchange submitted the proposal on February 6 to list and trade the Bitwise XRP ETF as a Commodity-Based Trust Share.

With the acknowledgment now in hand, the SEC has up to 90 days to review the application and provide a formal response.

The proposed ETF would offer investors exposure to XRP, the native asset of the XRP Ledger, through a traditional financial product.

The filing notes that XRP primarily functions as a tool for fast, low-cost cross-border payments, distinguishing it from Bitcoin and Ethereum, which are often viewed as stores of value.

It also draws parallels between XRP’s market characteristics and those of Bitcoin and Ethereum, both of which recently received SEC approval for spot ETFs.

The proposal emphasizes XRP’s liquid, decentralized, and resilient market structure.

It further references the SEC vs. Ripple Labs court decision, which determined that Ripple’s programmatic sales of XRP were not securities transactions.

If approved, the ETF would provide regulated access to XRP investment while eliminating self-custody requirements.

The document highlights that trading on a regulated exchange would ensure price transparency and facilitate market entry and exit, while competition could drive lower management fees compared to existing over-the-counter crypto funds.