The United States Securities and Exchange Commission has officially accepted the filing of Grassscale for Spot XRP and Dogicine Exchange-Treded Fund, shut down the review process that can hit the market at the end of this year at the end of this year Is.
On 13 February, Commission was published Notice For Grassscale Form 19B -4 filing, a procedural step before the start of the 240 -day window for reviewing and decision making.
After entering the filing in the Federal Register, the countdown begins. Believes Application. If processed soon, a final decision may come by mid -October.
Commenting on Vikas, Fox Business Journalist Allenor Terit Explained While acknowledgment does not mean “automatic approval”, it still marks a remarkable change in SEC’s stance.
He said that the agency, under its current leadership, is “more open -minded” and the crypto is ready to join with ETF proposals, rather than rejecting them.
He recalled that in December, the exchanges pulled the Solana ETF application after SEC, then led by the Gary Gensler, indicated that it would not attach to them. In contrast, SEC, under the new leadership, seems more open to consider such a filing, expecting these crypto-based products may eventually be launched.
Further, Tartate estimates that the SEC will soon attract its attention from other issuers to the XRP ETF applications after the leadership of Grassscale. Four other issuers, namely Bitwaiz, 21 Shar, Canary Capital and Wisdomist, have filed their own proposals, who are now waiting for the acknowledgment.
NYSE Arca filed a proposed rule change with SEC on January 30 to list and trade shares of Grayscale XRP Trust, followed by a similar filing for the Grassscale Dogcon Trust on 31 January.
Bloomberg’s analysts James Safart and Eric Balchunus estimate that the possibility of XRP and Dogecoin ETF respectively is being approved at 65% and 70%.
