The United States Securities and Exchange Commission (SEC) has formally acknowledged a 19b-4 filing submitted by NYSE Arca to list and trade Grayscale’s XRP exchange-traded fund (ETF). This acknowledgment marks the initial step in the regulatory review process. SEC Takes First Step Toward XRP ETF Consideration Eleanor Terrett, a journalist at FOX Business, reported that the SEC acknowledged the filing on February 13. This decision suggests that the regulatory body is open to reviewing the proposal rather than dismissing it outright. In contrast, the SEC previously demonstrated resistance toward similar applications. In December, it was reported that several exchanges withdrew their 19b-4 applications for Solana (SOL) spot ETFs after receiving indications that the SEC, led by Chair Gary Gensler, was unwilling to engage with them. However, by acknowledging Grayscale’s XRP ETF filing, the SEC appears to be adopting a different stance. Now that the SEC has acknowledged the application, the next phase involves a thorough review to determine whether to approve or reject Grayscale’s proposal. Terrett noted that this process could take as long as 240 days from the time the filing is published in the Federal Register. The SEC is expected to make the document publicly available within the coming days. Several other companies, including Bitwise and Canary, have also filed for approval to launch XRP ETFs. Additionally, stock exchanges such as Nasdaq and Cboe have submitted 19b-4 applications seeking permission to list these financial products. Given that Grayscale’s application has been acknowledged, it is anticipated that the SEC will do the same for similar filings from other issuers. The regulator typically has up to 15 days to acknowledge 19b-4 applications for ETFs. Ripple CEO Brad Garlinghouse Responds Ripple CEO Brad Garlinghouse reacted to the SEC’s acknowledgment, emphasizing that he had long predicted the eventual launch of an XRP ETF. He pointed out that many were initially doubtful of this possibility, particularly due to the ongoing legal dispute between Ripple and the SEC. I recall pointing out – more than once – that this was inevitable. (despite some vocal assertions to the contrary!) — Brad Garlinghouse (@bgarlinghouse) February 13, 2025 For years, regulatory uncertainty surrounding the asset has fueled speculation that the SEC would not consider approving an ETF related to the asset. This skepticism intensified after the SEC appealed its lawsuit against Ripple . However, the commission’s decision to acknowledge Grayscale’s filing indicates that its leadership is willing to review XRP ETF applications despite the ongoing legal battle. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Potential Impact on SEC v. Ripple Case Nate Geraci, President of ETF Store, highlighted the significance of the SEC’s decision about its lawsuit against Ripple. Although the commission has not dismissed its case against the company, acknowledging an XRP ETF application suggests that the lawsuit may not carry the same weight as it once did. The acknowledgment does not guarantee approval, but it indicates that the SEC is not outright rejecting the possibility of an XRP ETF. As the review process unfolds, industry participants will closely monitor the regulator’s stance on the native token and its broader approach to cryptocurrency-based ETFs. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple CEO Reacts to SEC Acknowledgement of Grayscale XRP ETF appeared first on Times Tabloid .
