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- The SEC has acknowledged Grayscale’s filings for Dogecoin and XRP ETFs, starting a formal review process that could lead to approval.
- Analysts see this as a positive sign. It has a good chance of approval, which could boost institutional adoption and market confidence.
The United States Securities and Exchange Commission (SEC) accepted Grayscale’s submission of 19b-4 filings for Dogecoin alongside XRP exchange-traded funds (ETFs). The regulatory process achieved an important milestone when this announcement gave investors hope about such approval.
SEC’s Formal Review Process Begins for Dogecoin and XRP ETFs
The Commission’s official acceptance starts the official evaluation period, which leads to decisions about these investment products. The New York Stock Exchange received a total of 19b-4 forms from Grayscale to transform their Dogecoin and XRP Trusts into ETFs. Multiple asset management firms, including Bitwise and REX Shares, are currently reviewing the applications for Dogecoin ETFs, with additional applications by Bitwise, Canary Capital, 21Shares, and WisdomTree for XRP ETFs.
After their acceptance, the SEC must publish all related filings in the federal register. Following this step, the agency must give approval or rejection status to proposed ETFs within 240 days. This recognition from analysts indicates that the SEC seems ready to reevaluate its position regarding financial products that encompass cryptic assets.
What Dogecoin and XRP ETF Approvals Could Mean for the Crypto Market
The regulatory analysts James Seyffart and Eric Balchunas at Bloomberg have assessed Dogecoin ETF at 75% and XRP ETF at 65% probability to win SEC approval during the upcoming year. Theirovíce stems from both regulatory attitude changes and rising institutional demand for cryptocurrency investment products.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025
Analyst Seyffart indicated that the previous SEC administration would have completely ignored such submissions. By denying Solana ETF submissions under the present leadership, he highlighted that this practice demonstrates enhanced prospects for approval. Balchunas agreed about this accolade because the SEC historically viewed altcoins with doubt despite the acknowledgment.
Experts from the industry and stakeholders monitor this situation closely. ETF Store President Nate Geraci expressed thoughts about how the acknowledgment signals potential consequences for the SEC’s active lawsuit against Ripple. Legal expert Jeremy Hogan believes the lawsuit against Ripple will probably end before XRP receives SEC ETF approval. Ripple CEO Brad Garlinghouse forecasted this development by revealing that these ETFs were bound to occur.
Many market analysts view this positive recognition as setting a bullish momentum for both Dogecoin and XRP in the future. The regulatory shift through this acknowledgment does not assure approval but establishes positive trends for cryptocurrency acceptance in financial markets.
The SEC’s decision-making process will now unfold over the coming months, with stakeholders awaiting further developments on these proposed ETFs.
