XRP and Dogecoin ETFs clear initial hurdle as SEC acknowledges Grayscale’s filings

The United States Securities and Exchange Commission officially recognized Grayscale’s deposits for the XRP spot and Dogecoin Exchange funds, the start of the examination process which could see these cryptographic funds arriving on the market later this year.

On February 13, the Commission published notice For deposits in Graycale form 19B-4, a procedural stage before the start of a 240-day window to examine and decide on requests.

The countdown begins once the deposits have entered the federal register, which generally occurs in the days following the Commission recognize Applications. If it is treated soon, a final decision could arrive in mid-October.

Commenting on development, the journalist of Fox Business Eleanor Terrett explain That even if recognition does not mean “automatic approval”, it always marks a notable change in the position of the dry.

She stressed that the agency, under its current direction, is “more open -minded” and eager to engage with the proposals of Crypto ETF rather than rejecting them outright.

She recalled that in December, the exchanges drawn ETF applications from Solana after the dry, then directed by Gary Gensler, reported that she would not engage with them. On the other hand, the dry, under new leadershipappears more open To consider such deposits, strengthen the hope that these crypto -based products could possibly launch themselves.

For the future, Terrett plans that the SEC will soon turn to the ETF XRP applications of other issuers who have followed the example of Graycale. Four other transmitters, namely Bitwise, 21Shares, Canary Capital and Wisdomtree, have submitted their own proposals, which are now awaiting recognition.

NYSE Ark laid A change of rule proposed with the dry on January 30 to register and exchange the actions of the Grayscale XRP Trust, followed by a similar deposit for the Grayscale Dogecoin Trust on January 31.

Bloomberg James Seyffart and Eric Balchunas analysts estimate The chances that the FNB XRP and Dogecoin are approved at 65% and 70%, respectively.