SEC could announce XRP ETF approval on February 13

The American Commission for Securities and Exchange should recognize the request for gray level investments to convert its XRP trust into a negotiated stock market on Thursday, February 13.

This expectation stems from the typical 15-day dry window to respond to a 19B-4 file, which Grayscale submitted on January 30, according to to Eleanor Terrett.

Graycale’s initiative aims to transform Its existing XRP Trust, which currently manages approximately $ 16.1 million in assets, in an ETF scored on the New York Stock Exchange.

This decision would allow investors to exchange stocks of the fund, offering exposure to XRP (Xrp) Without the complexities of the direct property of cryptocurrencies.

The future decision of the SEC could offer a significant overview of the agency’s current position on XRP, in particular given its historical legal disputes with Ripple, the company behind XRP.

A decision of the Federal Court previously determined That XRP is not a guarantee when it is exchanged on the secondary markets, a decision which can influence the approach of the SEC with related financial products.

High probability of approval

Paris polymarkets estimate a probability of 81% of the dry Will approve An ETF SPOT XRP this year. The result of the Ripple legal battle with the SEC remains a central factor in this evaluation.

The price of XRP has dropped by almost 30% compared to its peak in January, entering a lower market as a daily commercial volume and falling to term interest.