SEC Takes Action on Grayscale’s XRP ETF Application, Sparking Market Optimism – BitRss

The U.S. Securities and Exchange Commission (SEC) has added Grayscale’s application for an XRP ($2.66) exchange-traded fund (ETF) to the Federal Register. This marks the official start of the review process for the application, which could last up to 240 days. During this period, the SEC will solicit opinions from investors and market experts on the proposal.

Grayscale’s XRP ETF Application Under Review

The SEC has officially included Grayscale’s XRP ETF application in its review process. Initially, the public comment period will last for 21 days, allowing investors and market experts to share their insights on potential impacts.

As the application undergoes evaluation, issues such as market risk, investor protection mechanisms, and legal compliance will be examined. Regulatory concerns highlighted in the SEC’s previous ETF decisions will also play a crucial role in this review. Although the SEC’s recent stance on cryptocurrency ETFs has become more lenient, uncertainties regarding XRP’s legal status may affect the process.

XRP Price and Market Expectations

The inclusion of the XRP ETF application in the offici…