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BitcoinSistemi 2025-02-14 09:08:08

SEC Takes First Positive Step For Dogecoin (DOGE) and XRP! What Happens Next?

SEC Takes First Positive Step For Dogecoin (DOGE) and XRP! What Happens Next?

After Bitcoin (BTC) and Ethereum (ETH) received spot ETF approval, ETF applications were also made for many altcoins. While altcoins such as XRP, Solana (SOL), Litecoin (LTC), Dogecoin (DOGE) came to the fore among these, a new move came from the SEC. The SEC has accepted Grayscale’s 19b-4 filing for its Dogecoin and XRP ETF, paving the way for its approval. Grayscale filed a 19b-4 application to convert its Dogecoin and XRP Trusts into a spot ETF through the New York Stock Exchange (NYSE) to convert them into Dogecoin and XRP ETFs. Experts say that the SEC’s acceptance of Grayscale’s 19b-4 applications to convert XRP Trust and Dogecoin Trust into spot ETFs means that the agency will soon have to review the applications and make a final decision within the mandatory 240-day period. This step by the SEC means that the applications have entered the evaluation phase, and at this point, public comments will now be taken and the comments collected within 21 days will be effective in the SEC's final decision. The SEC will have the authority to approve, reject or extend the applications at the end of the 240-day period. Bloomberg analysts Eric Balchunas and James Seyffart explained the approval possibilities of altcoin ETFs in their recently published report. Accordingly, they stated that the probability of the SEC approving a Dogecoin and XRP ETF this year is 75% and 65%, respectively. Commenting on the adoption of the XRP ETF, Ripple CEO Brad Garlinghouse also said that the XRP ETF is inevitable. *This is not investment advice. Continue Reading: SEC Takes First Positive Step For Dogecoin (DOGE) and XRP! What Happens Next?

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