XRP ETF Launch Countdown Begins: SEC Review Underway

The countdown for XRP and Solana ETFs has officially begun as Grayscale's XRP ETF application, along with four other Solana ETF applications, was formally entered into the U.S. Securities and Exchange Commission (SEC) EDGAR system. The applications, submitted last week, triggered a 21-day public comment period, with a regulatory decision expected by October 18. If approved, the XRP ETF would provide users with a regulated investment exposure tool for XRP.

XRP has experienced a significant surge of over 381% in the past 12 months, attracting attention due to legal and regulatory improvements. Recent drivers of the recovery include rumors of U.S. banks potentially using XRP for internal transactions and speculation about the SEC's long-running lawsuit stance against Ripple. The SEC filed a lawsuit against Ripple in December 2020, accusing it of raising $1.3 billion through unregistered XRP sales and classifying it as a security based on the Howey Test. B2BINPAY CEO Arthur Azizov stated that the XRP ETF is highly likely to be launched this year, with the specific timing depending on the speed of resolution of the legal dispute with the SEC.