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crypto.news 2025-02-12 14:18:58

SEC could announce XRP ETF approval on February 13

The U.S. Securities and Exchange Commission is expected to acknowledge Grayscale Investments’ application to convert its XRP Trust into a spot exchange-traded fund as early as Thursday, Feb. 13. This expectation stems from the SEC’s typical 15-day window to respond to a 19b-4 filing, which Grayscale submitted on Jan. 30, according to Eleanor Terrett. Grayscale’s initiative aims to transform its existing XRP Trust, which currently manages approximately $16.1 million in assets, into an ETF listed on the New York Stock Exchange. The move would allow investors to trade shares of the fund, providing exposure to XRP ( XRP ) without the complexities of direct cryptocurrency ownership. The SEC’s forthcoming decision could offer significant insight into the agency’s current stance on XRP, particularly given its historical legal disputes with Ripple, the company behind XRP. A federal court ruling previously determined that XRP is not a security when traded on secondary markets, a decision that may influence the SEC’s approach to related financial products. You might also like: XRP price may crash 65%, Wyckoff Theory shows High likelihood of approval Polymarket bettors estimate an 81% probability of the SEC will approve a spot XRP ETF this year. The outcome of Ripple’s ongoing legal battle with the SEC remains a pivotal factor in this assessment. XRP’s price has dropped nearly 30% from its January peak, entering a bear market as daily trading volume and futures open interest decline. You might also like: Abu Dhabi’s crypto mining firm Phoenix Group posts 236% revenue surge amid global expansion

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