"SEC Acknowledges XRP, DOGE ETF Filings: A Shift in Stance?"

On January 30, 2025, NYSE Arca filed a proposed rule change with the SEC to list and trade shares of the Grayscale XRP Trust. On February 10, an amended version replaced the original filing, indicating that the proposal under review differs from the initial submission.

ETF Store President Nate Geraci highlighted the significance of the SEC’s acknowledgment of the XRP ETF filing, stating, “Shocked more people aren’t talking about SEC accepting XRP ETF filing…They have open litigation w/ Ripple.”

The SEC recently removed the lawsuit from its “Litigation Releases” section, sparking speculation about a potential resolution. Nevertheless, the case has been moved to the “Court of Appeals” section, indicating that legal proceedings are still underway.

Fox Business reporter Eleanor Terrett emphasized that acknowledgment does not imply automatic approval. Yet, the development marks a promising start, as it indicates that the SEC is being more open-minded and not flat out refusing to consider these products.

Notably, this marked a huge shift in the regulator’s stance. In December 2024, the SEC rejected ETF proposals for XRP and other cryptocurrencies. However, the filings received acknowledgment after Cboe’s resubmission under President Trump’s administration.

Bloomberg’s ETF analyst James Seyffart agreed, stating, “Under the prior SEC they never would have even acknowledged. And they didn’t. Solana filings were functionally denied as recently as December. Basically it means there’s a chance… lol.”

Once Grayscale’s XRP ETF is published in the Federal Register, it will have a 240-day approval window. In addition to Grayscale, the Cboe has filed 19b-4 forms for spot XRP ETFs from four other asset managers.

Alongside XRP, the SEC also acknowledged Grayscale’s DOGE ETF filing. This follows Grayscale’s launch of a Dogecoin Trust last month.

Bloomberg’s senior ETF analyst Eric Balchunas commented, “Doge ETF filing has been acknowledged by SEC, is part of normal process but that’s good sign in the case as these altcoins (which in past have been told to withdraw right after filing), b