SEC formally accepts Grayscale XRP and Dogecoin ETF applications for evaluation

Home » Regulations » SEC formally accepts Grayscale XRP and Dogecoin ETF applications for evaluation

The switch indicators a ability shift in angle against digital resources, despite ongoing moral challenges.

The US SEC has acknowledged proposed rule adjustments that will enable NYSE Arca to list and commerce shares of both the Grayscale XRP Belief and Grayscale Dogecoin Belief. Per Bloomberg ETF analyst James Seyffart, the forty five-day evaluation duration will open upon e-newsletter in the Federal Register.

NEW: There it’s — The SEC honest acknowledged @Grayscale & @NYSE’s 19b-4 filing to list an XRP ETF

(this changed into largely expected however officially manner the clock will launch soon for this and Dogecoin) pic.twitter.com/IQgTqPiiOe

— James Seyffart (@JSeyff) February 13, 2025

This vogue, especially the acknowledgment of the Grayscale XRP Belief utility, changed into highly anticipated, provided that Ripple and the SEC are mild combating over XRP’s classification.

Whereas Grayscale’s ETF proposals aren’t a carried out deal honest since the SEC acknowledged them, it’s an even signal that the regulator would be warming up to crypto investment merchandise, contrasting with earlier circumstances where SEC reluctance resulted in the withdrawal of the same applications, FOX Replace journalist Eleanor Terrett commented.

Per Bloomberg ETF analyst James Seyffart

The securities regulator has opened a 21-day public commentary duration for applications submitted by NYSE Arca, after which this can favor whether to approve, abhor, or institute complaints.

NYSE Arca filed a 19b-4 make with the SEC last month looking out for out approval to list and commerce Grayscale’s XRP Belief. As of January 22, 2025, the fund managed $16.1 million in resources.

For the Grayscale Dogecoin Belief, NYSE Arca submitted its 19b-4 make on January 31, rapidly after Grayscale launched the belief product. Both proposed ETFs would enable traders to develop publicity to their respective digital resources without negate ownership. Coinbase Custody Belief Firm serves as custodian, while BNY Mellon handles administration and switch agent duties.

Grayscale is increasing its ETF choices, pursuing conversions of its trusts into ETFs, including those for XRP, Litecoin, and Solana. The asset manager shall be looking out for out greenlight to open its Cardano Belief.

Per CoinGecko data, Dogecoin ranks because the eighth biggest digital asset by market cap, at the starting set aside created as a sportive replacement to Bitcoin and gaining extensive pork up from Elon Musk. XRP holds the situation of third-biggest digital asset.