The SEC has acquired six XRP ETF purposes during the last a number of weeks as curiosity in conventional crypto funding automobiles continues rising
Coinshares despatched a proposal for XRP and Litecoin ETFs whereas Grayscale despatched one for XRP amid a number of proposals for Solana ETFs
The SEC has acquired at least six purposes for XRP exchange-traded funds (ETFs) from main issuers like Canary Capital, Grayscale, Bitwise, WisdomTree, 21Shares, and Coinshares.
The most recent utility, Grayscale, started the 21-day remark interval on Friday the place members of the general public can submit suggestions on the proposed ETF.
Whereas this occurs, 5 Solana ETF purposes from 21Shares, Bitwise, Grayscale, VanEck, and Canary await a call.
The rise of curiosity in ETFs
The current swarm of ETF purposes is emblematic of a shift within the regulatory panorama to a extra pleasant surroundings. This shift started on the twilight of former Securities and Alternate Fee (SEC) chair Gary Gensler’s tenure with the approval of the Bitcoin and Ethereum ETFs in 2024.
Now that Mark Uyeda, a pro-crypto official, is in workplace, mixed with probably the most pro-crypto Congress the US has ever seen, the regulatory panorama is anticipated to be friendlier. Moreover, Ripple Labs’ win towards Gensler’s SEC has additionally positioned it in a beneficial development place.
President Donald Trump signed an govt order to create a sovereign wealth fund that can embrace cryptocurrencies. Whereas Bitcoin is anticipated to be on the checklist, current developments could place XRP within the fund as nicely.
In January, Trump met with Brad Garlinghouse, CEO of Ripple, who’s pushing for the sovereign wealth fund to include a couple of cryptocurrency, ideally XRP as nicely.
Some ideas on maximalism… let me say this as clearly as I can – the crypto trade has an actual shot, right here and now, to attain the various targets we’ve got in frequent, IF we work collectively as a substitute of tearing one another down. This isn’t, and by no means can be, a zero-sum sport.
• I personal…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
An XRP ETF approval might cement the crypto as a candidate for the reserve.
Ripple is the third largest crypto by market cap and trades at $2.48 as of publishing.
Litecoin ETF approval
Regardless of this, Bloomberg ETF analysts James Seyffart and Eric Balchunas consider {that a} Litecoin ETF has a 90% likelihood of being authorised in 2025.
In a publish on X, the pair primarily targeted on Dogecoin, Litecoin, Solana, and XRP. Of their view, Dogecoin ETF has a 75% likelihood of approval, a Solana ETF has a 70% likelihood, and an XRP ETF has a 65% approval score.
Seyffart added that it’s unlikely the market will see an XRP ETF till the entire Ripple/XRP/SEC case is settled, completed, or has some kind of final result.
“The SEC must untangle that mess,” he stated.
