Grayscale's XRP ETF Filing Starts SEC Review Process $XRP
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Grayscale’s $XRP ETF 19b-4 Filing Officially Posted to the Federal Register, SEC Approval Clock S...
According to FOX News correspondent Eleanor Terret, Grayscale’s XRP exchange-traded fund (ETF) proposal has officially been posted to the Federal Register, officially starting the 240-day clock for the US Securities and Exchange Commission’s (SEC) review process.
The countdown began following the SEC’s acknowledgment of the filing on February 14, and the agency now has until October 18 to approve, deny, or extend its evaluation of the application.
🚨NEW: @Grayscale’s $XRP ETF (19b-4 filing) has officially been posted to the Federal Register.
All this means is that the clock starts now for the @SECGov to engage and either approve or deny on or before October 18. pic.twitter.com/dhMSvOcSXF
— Eleanor Terrett (@EleanorTerrett) February 20, 2025
As part of the SEC’s review, a 21-day public comment period has begun, where industry stakeholders and policymakers will provide feedback on the feasibility of the ETF. The financial watchdog will then analyze these comments and assess the investment vehicle’s compliance with securities regulations, market integrity, potential manipulation risks, and investor protections.
XRP’s legal status could make approval ‘tough’
Alongside Grayscale, several companies, such as 21Shares, Canary Capital, Bitwise, CoinShares, and WisdomTree, have filed for XRP ETFs. Still, only Grayscale’s application has been added to the federal registry so far.
The XRP family is banking on the SEC’s recent shift to a more crypto-friendly approach. With a pro-crypto interim chair, Mark Uyeda, and Trump, the Ripple family is looking at a different outcome.
According to reports from Capitol Hill, cited by Terret, the regulatory agency is prioritizing cases with imminent deadlines. Ripple’s next court date is set for April 16, while Kraken’s is March 31.
Ripple to ride the political influence wave
Legal sources suggest that upcoming changes within the SEC could create conditions for dismissing the Ripple case. In December, President Trump nominated Paul Atkins, a former SEC commissioner who many in the industry believe will support the Republican government’s plan to provide regulatory clarity for the digital currency market.
If confirmed by the US Congress, Atkins could bring a new approach to crypto regulation, potentially altering the SEC’s strategy. Additionally, Congress has launched its first-ever Crypto Subcommittee, led by “crypto mom” Senator Cynthia Lummis.
The committee is actively investigating whether the SEC exceeded its jurisdiction in most of its lawsuits, including the one against Ripple.
On February 18, President Donald Trump signed an executive order affirming that all executive branch agencies operate under the President’s authority, including the SEC, the Federal Trade Commission (FTC), and the Federal Communications Commission (FCC).
“The United States was founded on the principle that the government should be accountable to the people. That is why the Founders created a single President who is alone vested with “the executive Power” and responsibility to “take Care that the Laws be faithfully executed,” noted the order.
XRP upward trend not yet defined
XRP is still yet to reach its all-time high value of $3.8, but investors hope the token will start a rally once ETF approvals start trickling in. As of the time of this publication, Ripple’s native coin was trading at $2.65, down 1.6% in the last 24 hours, showing little to naught reaction from the Grayscale filing’s appearance on the federal registry.
The third largest coin by market cap’s Relative Strength Index (RSI) currently sits at 34.02, indicating that the cryptocurrency is in oversold territory and could present a buying opportunity. The Moving Average Convergence Divergence (MACD) shows a neutral trend with no clear bullish or bearish momentum.
The 50-day Moving Average for XRP is at 2.67, suggesting a stable medium-term trend, while the Average True Range (ATR) of 0.01 points to low volatility. Over the last weekly trading interval, XRP’s price has shot up 4.3%, but its monthly returns have been a little underwhelming, counting a 16.3% loss from its $3 high on January 22.
Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet
The countdown began following the SEC’s acknowledgment of the filing on February 14, and the agency now has until October 18 to approve, deny, or extend its evaluation of the application.
🚨NEW: @Grayscale’s $XRP ETF (19b-4 filing) has officially been posted to the Federal Register.
All this means is that the clock starts now for the @SECGov to engage and either approve or deny on or before October 18. pic.twitter.com/dhMSvOcSXF
— Eleanor Terrett (@EleanorTerrett) February 20, 2025
As part of the SEC’s review, a 21-day public comment period has begun, where industry stakeholders and policymakers will provide feedback on the feasibility of the ETF. The financial watchdog will then analyze these comments and assess the investment vehicle’s compliance with securities regulations, market integrity, potential manipulation risks, and investor protections.
XRP’s legal status could make approval ‘tough’
Alongside Grayscale, several companies, such as 21Shares, Canary Capital, Bitwise, CoinShares, and WisdomTree, have filed for XRP ETFs. Still, only Grayscale’s application has been added to the federal registry so far.
The XRP family is banking on the SEC’s recent shift to a more crypto-friendly approach. With a pro-crypto interim chair, Mark Uyeda, and Trump, the Ripple family is looking at a different outcome.
According to reports from Capitol Hill, cited by Terret, the regulatory agency is prioritizing cases with imminent deadlines. Ripple’s next court date is set for April 16, while Kraken’s is March 31.
Ripple to ride the political influence wave
Legal sources suggest that upcoming changes within the SEC could create conditions for dismissing the Ripple case. In December, President Trump nominated Paul Atkins, a former SEC commissioner who many in the industry believe will support the Republican government’s plan to provide regulatory clarity for the digital currency market.
If confirmed by the US Congress, Atkins could bring a new approach to crypto regulation, potentially altering the SEC’s strategy. Additionally, Congress has launched its first-ever Crypto Subcommittee, led by “crypto mom” Senator Cynthia Lummis.
The committee is actively investigating whether the SEC exceeded its jurisdiction in most of its lawsuits, including the one against Ripple.
On February 18, President Donald Trump signed an executive order affirming that all executive branch agencies operate under the President’s authority, including the SEC, the Federal Trade Commission (FTC), and the Federal Communications Commission (FCC).
“The United States was founded on the principle that the government should be accountable to the people. That is why the Founders created a single President who is alone vested with “the executive Power” and responsibility to “take Care that the Laws be faithfully executed,” noted the order.
XRP upward trend not yet defined
XRP is still yet to reach its all-time high value of $3.8, but investors hope the token will start a rally once ETF approvals start trickling in. As of the time of this publication, Ripple’s native coin was trading at $2.65, down 1.6% in the last 24 hours, showing little to naught reaction from the Grayscale filing’s appearance on the federal registry.
The third largest coin by market cap’s Relative Strength Index (RSI) currently sits at 34.02, indicating that the cryptocurrency is in oversold territory and could present a buying opportunity. The Moving Average Convergence Divergence (MACD) shows a neutral trend with no clear bullish or bearish momentum.
The 50-day Moving Average for XRP is at 2.67, suggesting a stable medium-term trend, while the Average True Range (ATR) of 0.01 points to low volatility. Over the last weekly trading interval, XRP’s price has shot up 4.3%, but its monthly returns have been a little underwhelming, counting a 16.3% loss from its $3 high on January 22.
Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet