XRP ETF Filings Surge Amidst Speculated SEC Approval
Grayscale has filed to convert its XRP Trust into an XRP ETF, signaling growing confidence in regulatory approval. As SEC speculation intensifies, XRP investors watch for potential market-shifting developments.
Outlines:
- Grayscale’s Bold Step – Why its ETF filing is a game-changer for XRP.
- Ripple vs. SEC – The latest on the appeal and regulatory shifts.
- Investor Impact – How approval could fuel XRP’s price surge and adoption.
On Thursday, January 30, Grayscale requested that Grayscale XRP Trust be converted into an XRP-spot ETF. The filing expressed rising confidence in regulatory approval. Bloomberg Intelligence ETF analyst James Seyffart announced that NYSE and Grayscale have applied to convert Grayscale’s XRP trust into an ETF.
The trust’s assets currently total over $16 million.”
Grayscale joins Bitwise, Canary Funds, WisdomTree, and 21Shares, which have already applied for XRP-spot ETFs.
Grayscale is a major player in the cryptocurrency-spot ETF market. Grayscale successfully appealed the SEC’s decision to deny its request to transform Grayscale Bitcoin Trust into a BTC-spot ETF. The victory paved the way for a US Bitcoin (BTC)-spot ETF market, which has received total net inflows of $39,862 million since its start on January 11, 2024.
Related:
Ripple’s XRP Goes Mainstream: Japan’s $6.3 Trillion Banking System Embraces Crypto
XRP Surpasses Bitcoin as Most Traded Crypto on Upbit
The latest XRP-spot ETF filing suggests anticipation that the SEC will withdraw its appeal in the Ripple case. On January 15, 2025, the SEC filed its appeal-related opening brief, challenging the Programmatic Sales of XRP decision.
The approval of XRP-spot ETFs could significantly boost XRP demand, potentially driving it to record highs. BTC surged from $46,716 to $109,312 following the ETF approvals and Trump’s election win. Eleanor Terrett, a Fox Business journalist, commented on the latest XRP-spot ETF filing.
“SCOOP: Keep an eye out for possibly more filing activity by issuers with XRP ETF applications next week.”
SEC Remains Silent on XRP ETF and Ripple Case After Closed Meeting
Despite mounting optimism that the SEC would abandon its appeal, the agency stayed silent on the Ripple issue following its January 30 closed meeting. Following the appointment of Mark Uyeda as acting SEC Chair by US President Trump, speculation about a possible withdrawal has grown.
Acting Chair Uyeda has already hinted at a probable shift in cryptocurrency enforcement, noting
“The single most essential thing the SEC can and must do to restore the rule of law is to stop pursuing enforcement actions against crypto firms that behaved in good faith but were caught off guard by Gary Gensler. So yet, the SEC has made no public efforts to correct these wrongs. “Why wait?”
Pro-crypto lawyer Fred Rispoli answered, “Great question. Especially with the Commission currently having a 2-1 pro-crypto majority. And, officially, a quorum for voting is three.”
XRP ETF Price Trends: SEC Appeal Decision Remains Crucial
On Thursday, January 30, XRP rose 1.95%, adding to Wednesday’s 0.30% increase, to close at $3.1276. The developments in XRP paralleled those of the broader crypto market, which increased 1.96%, bringing the whole crypto market capitalization to $3.50 trillion.
The SEC’s decision on the appeal will impact XRP’s price movement. Withdrawal of the appeal might push XRP above its all-time high of $3.5505.
- Pursuing the appeal may cause XRP to drop below $2.50.
The XRP ETF filings mark a pivotal moment for investors, with potential SEC approval driving massive market gains. However, regulatory uncertainty remains. Investors should stay informed, assess risks, and prepare for volatility. A green light could propel XRP to record highs, while rejection may trigger short-term price declines.
