The SEC has accepted applications for both Grayscale XRP and Grayscale Dogecoin (Doge) stock market investment funds (ETF). These applications aim to list and trade relevant assets within the scope of the rules of commodity -based trust shares. However, this notification does not mean that the bid is approved. On the contrary, it is part of the process of obtaining public opinion. After reviewing the comments and taking into account the feedback, the SEC will decide to confirm or reject the proposed rule change.
SEC took my first step for XRP ETF!
On January 30, 2025, Nyse Arca applied to Grayscale XRP Trust’s shares to list a proposed rule of rule to SEC. On February 10, a modified version replaced the original file. This means that the currently being examined is different from the first presentation. ETF Store President Nate Gerraci underlined the importance of SEC’s approval. Geri said that more people do not speak more about the acceptance of the XRP ETF application.
SEC recently removed the case from the “case bulletins” section and led to speculation for a potential solution. However, the case was moved to the “Court of Appeal” section. Therefore, this shows that legal proceedings are still continuing. Meanwhile, Fox Business reporter Eleanor Terrett stressed that acceptance does not mean automatic approval. Nevertheless, this development points to a promising beginning. “Because this means that the SEC is more open -minded and does not refuse to evaluate these products, Ter Terrett wrote.
SEC changed with Donald Trump!
In particular, this indicates a major change in the regulator’s posture. In December 2024, SEC rejected several 19-B4 applications for Solana (left) ETFs. However, applications were accepted after CBOE re -applied under the administration of President Trump. Bloomerg’s ETF analyst James Seyffart agrees the same. In this context, Seyffart commented:
They would never even accept during the previous SEC. And they didn’t. Solana applications have been rejected functionally recently, such as December. Basically, this means that there is a chance… Lol.
Grayscale’s XRP ETF will have a 240 -day approval process after being published in the federal registry. In addition to Grayscale, CBOE filed 19b-4 forms for Spot XRP ETFs of other four other asset managers.
Doge Etf attracts attention
In addition to the XRP, the SEC also accepted Grayscale’s application for DOME ETF. This came after Grayscale released Dgecoin Trust last month. Bal Bloomberg’s senior ETF analyst Eric Balchunas commented that “the application of the DOME ETF was accepted by the SEC, part of the normal process, but this is a good sign for increasing our chances of approval,” he commented.
Previously, analysts suggested that Dogecoin had a higher approval than the solana or XRP. SEC can classify this as an commodity instead of a securities. It should be noted that the securities classification is a barricade for left and XRP ETFs. Bitwise, who joined Grayscale, also applied for a doge ETF. Finally, Rex Shares requested approval for more than one breast coin ETF, including Dgecoin, Bonk (Bonk) and Official Trump (Trump).
