SEC acknowledges Grayscale’s XRP ETF filing – Will this push altcoin to $3? 

• Grayscale’s XRP ETF acknowledgment could pave the way for a sign-off for similar applications
• Will the ETF speculation fuel XRP’s recovery to the latest local peak of $3.4? 

The U.S SEC has acknowledged Grayscale’s XRP ETF 19b-4 filing, marking a new milestone for the altcoin. Especially since it is still in the middle of an ongoing lawsuit with the regulator. 

According to its filing, Grayscale seeks to convert its XRP Trust, which currently has $12.8M in assets under management (AUM), into a Spot ETF. Other potential issuers who filed similar applications, like Canary Fund, 21Shares, WisdomTree, and Bitwise, are expected to get similar sign-offs too. 

For the products to begin trading, S-1 or the SEC registration statement form, must also be signed off. As far as standard procedure is concerned, the regulator could take another 240 days to approve or deny the products’ entry into the market. 

Will the lawsuit against Ripple be dropped?

As expected, the signing off of the 19b-4 filing elicited many reactions from the crypto-community. Commenting on the development, Nate Geraci of ETF Store viewed the update as an “enormous message.” He stated,

“Shocked more people aren’t talking about SEC accepting XRP ETF filing…They have open litigation w/ Ripple. Meanwhile, they just acknowledged filing of ETF holding asset in dispute (they easily could have rejected this filing). Enormous message IMO.”

For her part, FOX Business reporter Eleanor Terrett stated that while the move is a sign of SEC’s ‘open-mindedness,’ it didn’t guarantee automatic approval. She said, 

“No, it doesn’t mean automatic approval … So why is it notable? Because it means this SEC is being more open-minded and not flat-out refusing to consider these products.”

For context, issuers withdrew their SOL ETF applications in December after the previous SEC regime signaled it wouldn’t engage with them. What this means is that there has been a shift in the attitudes of the regulator recently.

More and more people are optimistic too. In fact, Polymarket’s approval odds for an XRP ETF in 2025 have risen to 80% in the last 30 days. 

Source: Polymarket

On the price charts, XRP climbed by 15% in just three days recently. At press time, the altcoin was valued at $2.7, about 25% away from its latest all-time high of $3.4. 

According to crypto analyst Ali Martinez, XRP could reclaim $3 soon. This level has doubled as the middle range target of the ascending range formed since last December. 

Source: X