Acknowledgment of XRP ETF Filings
The SEC is showing a significant shift in its approach to crypto ETFs as multiple firms filed applications for XRP ETFs in February 2025. Cboe has submitted 19b-4 documents for XRP ETFs from several major players including Bitwise, 21Shares, Canary Capital, and WisdomTree.
Regulatory Landscape Changes
The regulatory landscape appears to be evolving, particularly after the SEC acknowledged Grayscale's Solana ETF filing, marking the first time an ETF application for a previously deemed "security" cryptocurrency has been acknowledged. This change seems to be directly connected to new leadership at the SEC, with the agency now showing more openness to crypto investment products beyond just Bitcoin and Ethereum.
Momentum in ETF Filings
The filing process has picked up steam with a few firms moving forward with their applications. All four XRP ETF issuers had filed their S-1 forms, which marks the first step in launching an ETF. The SEC will need to work against deadlines, as it is required to take actions within set timeframes after the acknowledgment of these filings. As of now, XRP is trading at $2.34, showing relatively stable behavior in the wake of increased ETF filing activity.