The buzz around an XRP exchange-traded fund (ETF) is growing louder, and investors are watching closely. FOX Business journalist Eleanor Terrett suggests that the US Securities and Exchange Commission (SEC) could acknowledge Grayscale’s 19b-4 filing for an XRP ETF as early as February 13, 2025. If that happens, it could be a major step toward XRP joining the ranks of Bitcoin and Ethereum, both of which already have spot ETFs.
This development comes after NYSE Arca applied on January 30 to list and trade shares of Grayscale’s XRP Trust, mirroring its Bitcoin and Ethereum Trusts.
But will the SEC approve it? And how does the ongoing Ripple lawsuit play into this? The road ahead is full of twists and turns – here’s what you need to know.
Terrett noted that the SEC usually acknowledges such filings within 15 days. If that happens, it could give insights into how the current SEC leadership views XRP. This is important because, under former SEC Chair gary gensler
While the possibility of an XRP ETF is exciting, Bloomberg analysts James Seyffart and Eric Balchunas estimate only a 65% chance of approval this year. This is notably lower compared to Litecoin (90%), Dogecoin (75%), and Solana (70%). The odds could improve dramatically if the SEC acknowledges Grayscale’s filing and resolves the ongoing Ripple lawsuit. Seyffart also noted that an XRP ETF approval is unlikely until the lawsuit concludes.
Pro-XRP lawyer Jeremy Hogan agrees that an XRP ETF approval is unlikely before the Ripple vs. SEC case is settled. However, he also said that there is little left to argue in the case, making a resolution the next logical step.
Even if the SEC does move forward, the approval process could still take 8 to 12 months due to the required S-1 filing. Meanwhile, Nasdaq has also requested SEC approval to list XRP ETFs, which would allow investors to gain exposure to XRP without directly owning it. If approved, strong demand could push XRP’s price higher.
The SEC’s newly formed Crypto Task Force is working to clarify cryptocurrency regulations, which could influence ongoing legal battles, including Ripple’s case.
Recently, the SEC and Binance filed a joint motion to pause their lawsuit for 60 days, raising speculation that similar delays could happen in the Ripple case. Some believe the SEC might be waiting for former SEC Commissioner Paul Atkins’ confirmation on the matter before making a decision.
The pieces are moving, the stakes are high, and XRP’s future hangs.
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