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Bullish
XRP ETF Moves Closer to Reality as SEC Acknowledges Filing.
The U.S. Securities and Exchange Commission (SEC) has officially acknowledged a filing for an $XRP exchange-traded fund (ETF) submitted by the New York Stock Exchange (NYSE) and Grayscale. This marks the first time the SEC has responded to an XRP ETF proposal, triggering a 240-day review period.
The acknowledgment is particularly significant given the SEC’s ongoing legal battle with Ripple, the company behind XRP. The regulator sued Ripple in 2020, alleging that XRP was sold as an unregistered security. While a federal judge ruled in 2023 that XRP is not a security when traded on secondary markets, the SEC continues to challenge aspects of the decision.
ETF Store President Nate Geraci commented on the filing, stating that the SEC could have rejected it outright but chose not to, signaling potential progress.
According to Bloomberg analysts, there is a 65% chance of an XRP ETF being approved by the end of 2025. Other crypto ETFs, including those for Litecoin (LTC), Dogecoin ($DOGE ), and Solana ($SOL ), are also under consideration, with decisions expected in October.
#CryptolovePoems
@CKrypto_Quest
The U.S. Securities and Exchange Commission (SEC) has officially acknowledged a filing for an $XRP exchange-traded fund (ETF) submitted by the New York Stock Exchange (NYSE) and Grayscale. This marks the first time the SEC has responded to an XRP ETF proposal, triggering a 240-day review period.
The acknowledgment is particularly significant given the SEC’s ongoing legal battle with Ripple, the company behind XRP. The regulator sued Ripple in 2020, alleging that XRP was sold as an unregistered security. While a federal judge ruled in 2023 that XRP is not a security when traded on secondary markets, the SEC continues to challenge aspects of the decision.
ETF Store President Nate Geraci commented on the filing, stating that the SEC could have rejected it outright but chose not to, signaling potential progress.
According to Bloomberg analysts, there is a 65% chance of an XRP ETF being approved by the end of 2025. Other crypto ETFs, including those for Litecoin (LTC), Dogecoin ($DOGE ), and Solana ($SOL ), are also under consideration, with decisions expected in October.
#CryptolovePoems
@CKrypto_Quest
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