SEC Acknowledges Another Spot XRP ETF Filing

According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing by 21Shares for a spot XRP exchange-traded fund (ETF).

This acknowledgment follows closely on the heels of the SEC’s recognition of Grayscale Investments’ proposal to list and trade shares of its Grayscale XRP Trust as an ETF.

🚨 BREAKING: The SEC acknowledges the filing for the 21Shares Spot XRP ETF. pic.twitter.com/840M91bGQa

— Cointelegraph (@Cointelegraph) February 14, 2025

These developments suggest a potential shift in the regulatory landscape for cryptocurrency-based financial products, and many in the community are excited for an XRP ETF approval anytime soon.

On November 1, 2024, 21Shares submitted a Form S-1 to the SEC , seeking approval to list its Core XRP Trust shares on the Cboe BZX Exchange. According to the filing, the trust aims to give investors indirect exposure to the digital asset. 21Shares was the third firm to apply for a spot XRP ETF, following earlier applications by Canary Capital and Bitwise.

The SEC’s New Stance On ETF Applications

As mentioned earlier, the SEC has acknowledged Grayscale Investments’ proposal for an ETF. The SEC’s acknowledgment initiated a process to solicit public comments for the application.

In late 2024, the SEC, under former Chair Gary Gensler, refused to consider any ETF applications, stating that it would not approve any under the outgoing administration. Gensler is notorious for his war on crypto—a multi-year war against cryptocurrency companies like Ripple, Coinbase, and more.

However, with Gensler gone, the regulator seems to be headed in a more pro-crypto direction, and some have speculated that it may dismiss the Ripple lawsuit and other non-fraud cryptocurrency lawsuits.

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Growing Excitement in the Crypto Space

Following the acknowledgment of the Grayscale ETF, Ripple CEO Brad Garlinghouse reiterated his statement that an XRP ETF is inevitable . While the acknowledgment of these filings does not equate to approval, it signals a shift in the SEC’s stance.

Now that the regulator has acknowledged another ETF, other major developments like the potential dismissal of the Ripple lawsuit may come sooner than expected.

The positive news over the past 48 hours has aided XRP’s price significantly. The asset is trading at $2.8, up 13.65% from yesterday, and 17% from last week, and many market participants anticipate a continued climb.

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