The SEC has acknowledged Grayscale’s applications to convert the Dogecoin Trust and #xrp Trust to #ETFs , marking a significant step forward for these crypto assets. While this acknowledgement does not yet mean approval, it does open the door for public comment and begins the review process. The same thing happened recently with a Solana ETF, demonstrating a change in the regulator’s stance on cryptocurrencies. Analysts predict a 75% chance of approval for the $#Dogecoin ETF and a 65% chance for the #xrp ETF, indicating growing optimism in the market.
With this acknowledgement, the 240-day deadline for the SEC to decide whether to approve or reject the ETFs begins. The new administration of the agency has been more open to considering these products, unlike the previous administration, which did not even consider such filings. Experts point out that Ripple's lawsuit against the SEC could influence the decision on the #Xrp🔥🔥 ETF, while the market closely monitors this development, which could represent a milestone for the crypto sector.