Will the SEC acknowledge Grayscale’s XRP ETF on February 13?

The U.S. Securities and Exchange Commission could admit Grayscale Investments’ petition to crook its XRP Trust into a spot exchange-traded money arsenic aboriginal arsenic Thursday, February 13.

Eleanor Terrett, a writer astatine FOX Business, says that this anticipation comes from the information that the SEC usually has 15 days to respond to a 19b-4 filing. Grayscale sent connected January 30, making Feb 13 a cardinal day for the event.

Source: X

Grayscale wants to crook its XRP Trust, which manages assets worthy astir $16.1 cardinal astatine the moment, into an ETF.

If the support really happens, it could beryllium a large measurement toward XRP joining the ranks of Bitcoin and Ethereum, some of which already person spot ETFs.

This volition assistance Grayscale’s clientele to commercialized XRP connected the New York Stock Exchange. Investors would beryllium capable to commercialized shares successful the fund, giving them entree to XRP without having to woody with the hassles of straight owning the cryptocurrency.

Under the enactment of erstwhile SEC Chair Gary Gensler, erstwhile XRP was considered an unregistered security, this was unthinkable. However, times person present changed. The national tribunal has already ruled that XRP is not a security.

Even though the thought of an XRP ETF is exciting, James Seyffart and Eric Balchunas of Bloomberg accidental it has lone a 65% accidental of being approved this year.

Also Read: Cboe Files With SEC for First Spot XRP ETFs successful the U.S.