- SEC Acknowledges Grayscale’s XRP ETF Filing – The SEC has officially recognized Grayscale’s application to convert its $12.8 million XRP Trust into a Spot XRP ETF, signaling a potential regulatory shift. Other major firms, including 21Shares, WisdomTree, and Bitwise, are also awaiting approvals.
- Regulatory Attitudes Are Changing – Despite Ripple’s ongoing lawsuit with the SEC, the acknowledgment of the XRP ETF filing suggests a more open-minded approach from the regulator. Experts highlight this as a major shift, with XRP ETF approval odds rising to 80% on Polymarket.
- XRP Price Surge & Future Predictions – XRP has jumped 15% in three days, now trading at $2.70, about 25% below its all-time high of $3.40. Analysts predict a push toward $3 as XRP continues to hold momentum within an ascending price channel.
In a move that caught many off guard, the U.S. Securities and Exchange Commission (SEC) has officially acknowledged Grayscale’s XRP ETF 19b-4 filing—a milestone moment, especially considering Ripple is still tangled in an ongoing legal battle with the regulator.
Grayscale’s plan? To convert its existing XRP Trust—which currently manages around $12.8 million in assets (AUM)—into a full-fledged Spot XRP ETF. And it’s not just Grayscale making moves. Other major players, including Canary Fund, 21Shares, WisdomTree, and Bitwise, have filed similar applications, all now waiting in line for potential green lights.
Of course, this acknowledgment doesn’t mean immediate approval. The SEC still needs to sign off on S-1 registration statements, a process that could take up to 240 days before these products hit the market.
SEC’s Surprising Shift: What About the Ripple Lawsuit?
Naturally, the crypto community erupted with reactions. Many analysts see this as an unexpected shift in the SEC’s stance, with ETF Store’s Nate Geraci calling it an “enormous message” to the market.
“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.”
Meanwhile, FOX Business reporter Eleanor Terrett emphasized that while this shows the SEC is “more open-minded,” it does not guarantee approval.
“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.”
To put things into perspective, just last December, issuers withdrew their Solana (SOL) ETF applications after the previous SEC administration completely shut down discussions. This latest move suggests a notable shift in the regulator’s attitude—a sign that the tides might be turning.
And optimism is growing fast. The odds of an XRP ETF getting approved in 2025 have jumped to 80% on prediction market Polymarket, a sharp rise over the last 30 days.
XRP Price Action: Can It Reclaim $3?
The XRP market didn’t sit still either. In just three days, XRP surged 15%, currently trading around $2.70. That puts it about 25% away from its all-time high of $3.40, a level set back in 2018.
According to crypto analyst Ali Martinez, $3 could be back in play soon. He noted that this price point aligns with the middle range of an ascending price channel that XRP has been forming since December 2024.
If momentum keeps building and regulatory winds remain favorable, XRP’s long-awaited breakout might not be too far off.
