The SEC has officially accepted Grayscale’s 19B-4 application to list XRP ETFs. This development points out that SEC may have a more open approach to XRP ETF applications.
SEC has officially evaluated the XRP ETF application
Fox Business reporter Eleanor Terrett announced that SEC accepted the application yesterday. This step is considered the first stage of the approval process. The adoption of the application means that the SEC is released to the evaluation process instead of directly rejecting the XRP ETF application.
Previously, the SEC had negatively approached the Solana Spot ETF applications and the stock exchanges had to withdraw these applications. The adoption of the XRP ETF application indicates that the SEC’s attitude towards such products may change.
How will the XRP ETF process proceed?
The acceptance of the SEC’s application shows that the process officially started. The regulatory institution will decide whether to approve the XRP ETF application. This process will begin after SEC has added to the Federal Registration System.
The process of approval or rejection of ETF applications may extend up to 240 days. SEC is expected to make the file open to the public in the coming days. This is seen as an important development for XRP investors.
Ripple CEO Brad Garlinghouse’s statements
Ripple CEO Brad Garlinghouse made a statement about SEC’s acceptance of the application. Garlinghouse said he thought XRP ETF was inevitable and was right in this estimation.
https://x.com/bgarlinghouse/status/1890163508203147304
The doubts about the XRP ETFs stemmed from the case between SEC and Ripple. However, the acceptance of Grayscale’s application may be an indication that XRP has begun to overcome regulatory barriers.
Effects on the case between SEC and Ripple and market expectations
ETF Store President Nate Gerraci considered SEC’s acceptance of the application as a critical development for the Ripple case. According to him, this move shows that the regulatory pressure on the XRP is alleviated.
https://x.com/nategereraci/status/1890162846765613139
The Secute has not yet concluded the Ripple case. However, the adoption of the XRP ETF application shows that the impact of this case on the market has started to decrease. The XRP community sees this development as a harbinger of future positive regulations.
