SEC accepts Grayscale XRP Trust's application to convert into an ETF

Golden Finance reports, according to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has officially accepted the 19b-4 application submitted by Grayscale and NYSE, intending to convert Grayscale XRP Trust into an exchange-traded fund (ETF). Although this does not mean automatic approval and cannot guarantee that the SEC will ultimately agree to the application, this development shows that the SEC's attitude towards crypto ETFs is more open rather than outright rejecting such products.

Previously, due to a firm stance from the SEC, exchanges had withdrawn their Solana ETF applications. However, this time with SEC accepting XRP ETF application indicates that crypto ETFs like LTC, DOGE, SOL and XRP still have potential for approval. The SEC is expected to publish this application in Federal Register within a few days when a 240-day review window will officially begin. In addition, XRP ETF applications from institutions like Bitwise, 21Shares , Canary Funds and WisdomTree are still waiting for processing by the SEC.