The US Securities and Exchange Commission (SEC) has officially acknowledged the receipt of Grayscale Investments\u2019 19b-4 filing to convert its XRP Trust into a spot exchange-traded fund (ETF). The agency\u2019s confirmation\u2014disclosed by Bloomberg ETF analyst James Seyffart on 14th February\u2014signals the start of the formal review process that could ultimately decide whether the product is cleared for public listing.<\/p>\n
James Seyffart, who reported<\/a> the news via his X account, stated: \u201cThere it is \u2014 The SEC just acknowledged Grayscale & NYSE\u2019s 19b-4 filing to list an XRP ETF (this was mostly expected but officially means the clock will start soon for this and Dogecoin).\u201d<\/p>\n The SEC\u2019s acknowledgment kicks off a regulatory timetable, opening a window for public commentary and multiple rounds of decision-making. The agency is expected to follow this step-by-step procedure to either approve, reject, or request additional information concerning the proposed XRP ETF.<\/p>\n Although formal acknowledgment does not guarantee an approval further down the line, it underscores that the SEC is sufficiently engaged to put the filing on the official docket. Nate Geraci, President of the ETF Store and Co-Founder of the ETF Institute, underlined the significance of this action in the context of the SEC\u2019s ongoing legal dispute<\/a> with Ripple.<\/p>\n He remarked: \u201cSEC has acknowledged NYSE\u2019s 19b-4 filing to list & trade Grayscale XRP ETF\u2026 Obviously a potentially huge statement re: SEC\u2019s case vs Ripple.\u201d Geraci further elaborated<\/a> on what he perceives as a remarkable development: \u201cShocked more people aren\u2019t talking about SEC accepting XRP ETF filing\u2026 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.\u201d<\/p>\n These statements highlight how the SEC\u2019s willingness to initiate the review process\u2014rather than dismissing it outright\u2014could indicate the SEC\u2019s openness to settle or drop the Ripple case which is currently at the Court of Appeals.<\/p>\n Fox Business journalist Eleanor Terrett provided<\/a> additional context on why the acknowledgment alone is noteworthy: \u201cBecause it means this SEC is being more open-minded and not flat out refusing to consider these products. Recall, exchanges pulled the SOL 19b-4 applications in December when the Gensler SEC<\/a> signaled it would not engage with them. [\u2026] Next up, the SEC should acknowledge the XRP ETF applications from issuers that filed later than Grayscale \u2014 including Bitwise<\/a>, 21Shares, Canary Funds, Wisdom Tree. The 240-day window for Grayscale\u2019s approval starts when it gets posted to the federal register which should be in a couple of days from now.\u201d<\/p>\n Following the announcement, XRP\u2019s price rose by over 5% in a relatively muted overall market. However, technical analysis of the XRP\/USDT 4-hour chart indicates that as of press time, the token failed to break through a major resistance level. The rejection occurred at the 0.5 Fibonacci retracement (Fib) around $2.58. If buyers manage to push XRP above this threshold, the next critical resistance is near $2.77 (the 0.618 Fib). A sustained rally beyond that point could see the token retest its January 25 high at $3.40.<\/p>","protected":false},"excerpt":{"rendered":" The US Securities and Exchange Commission (SEC) has officially acknowledged the receipt of Grayscale Investments\u2019 19b-4 filing to convert its XRP Trust into a spot exchange-traded fund (ETF). The agency\u2019s confirmation\u2014disclosed by Bloomberg ETF analyst James Seyffart on 14th February\u2014signals the start of the formal review process that could ultimately decide whether the product is […]<\/p>\n","protected":false},"author":0,"featured_media":44513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44512"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44512"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44513"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why This Is An \u2018Enormous Message\u2019 For Ripple<\/h2>\n