The Cboe BZX Exchange has officially filed 19b-4 applications with the U.S. Securities and Exchange Commission (SEC) for four proposed XRP Exchange-Traded Funds (ETFs) from asset managers Bitwise, Canary Capital, 21Shares, and WisdomTree. This move marks a significant step toward bringing XRP investment products to mainstream financial markets.
XRP ETFs Move Closer to Approval
The submitted filings indicate that these XRP ETFs will comply with BZX Rule 14.11(e)(4), which governs the listing of commodity-based trust shares. The 19b-4 filing serves as a formal request for the SEC to permit the listing of these ETFs on Cboe.
Fox Business journalist Eleanor Terrett explained that the SEC’s acknowledgment of this filing would trigger a 240-day review period, after which a final approval or rejection will be issued. Analysts believe the acknowledgment is likely, given that the SEC recently recognized similar filings from Grayscale Investments.
Expanding Interest in Crypto ETFs
XRP ETFs are not the only crypto investment products drawing attention. The SEC has also begun reviewing an application for a Canary Capital Spot Litecoin ETF, a move that analysts predict could drive Litecoin’s price toward $50 if approved.
Additionally, the regulatory agency has invited public comments on Grayscale’s Litecoin ETF proposal, with a 21-day period for responses following its Federal Register publication.
Beyond XRP and Litecoin, asset managers are pushing for ETFs focused on a variety of altcoins and memecoins, including Solana, Dogecoin, Hedera, Cardano, Polkadot, and even TRUMP. While optimism remains high for the approval of XRP and Solana ETFs, analysts suggest that issuers are also testing the SEC’s regulatory boundaries with these proposals.
Regulatory Shifts Bolstering Crypto ETF Market
The increasing number of crypto ETF applications reflects a more favorable regulatory environment under the current U.S. administration. President Donald Trump’s return to office has played a role in reshaping the digital asset landscape. With Mark Uyeda replacing Gary Gensler as SEC Chair, the commission has begun implementing policies that appear more supportive of crypto innovation.
One of Uyeda’s first initiatives was launching a dedicated crypto task force, aimed at developing regulatory frameworks that encourage industry growth while ensuring investor protection.
However, despite the improving landscape, there is no certainty that the SEC will approve all pending crypto ETF applications. The regulatory body remains cautious, evaluating each proposal on its merits before making a final decision.
With the 19b-4 filings now in motion, the crypto industry will be closely watching the SEC’s response, as the outcome could have far-reaching implications for digital asset investment in the U.S.
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