XRP ETF Applications: SEC Opens Door to Regulated Investments

XRP ETF applications have taken a significant step forward, with Grayscale and Solana submissions paving the way for regulated XRP investments. On February 21, the U.S. Securities and Exchange Commission (SEC) officially recorded these applications in the federal register, initiating a 21-day public comment period. This development follows the submission of four Solana ETF applications by prominent firms such as VanEck and 21Shares, alongside Grayscale's XRP ETF application. The SEC's decision, expected by October 18, will determine the fate of these applications and their potential impact on the market.

XRP has experienced remarkable growth, with a year-over-year increase of over 381%. This growth can be attributed to favorable legal outcomes and regulatory clarity. Analysts are optimistic about the potential interest from U.S. banks in utilizing XRP for internal transactions. The ongoing SEC lawsuit against Ripple, initiated in December 2020, has shaped market perceptions. The agency claims that Ripple raised $1.3 billion via unregistered sales. Industry experts, such as B2BINPAY CEO Arthur Azizov, suggest that the launch of the XRP ETF is likely and may occur swiftly, contingent on the resolution of the SEC proceedings.