- The U.S. Securities and Exchange Commission (SEC) has scheduled a closed-door meeting on Thursday to discuss XRP ETFs.
- The SEC’s extended review timelines and the ongoing Ripple lawsuit add uncertainty to the timing of any potential XRP ETF approval.
Ripple’s XRP XRP is the center of crypto enthusiast discussions this week, as the U.S. Securities and Exchange Commission has scheduled its next closed-door meeting this Thursday.
Meanwhile, The NYSE Arca filed a 19b-4 application on January 30 to convert Grayscale’s XRP Trust to a spot ETF. The SEC responded to the filing on 13th February by acknowledging it and inviting comments from the public.
The registration in the Federal Register sets off a structured review process. These events have sparked heightened anticipation of launching the spot product approval this week.
It is worth mentioning that Brazil is one step ahead of the U.S. as Brazil securities regulators, the ‘Comissão de Valores Mobiliários,’ gave the green light to the very first spot XRP ETF.
Notably, the SEC’s acknowledgement of XRP ETF’s has increasingly sparked optimism of approval of the spot ETF. On one instance, an interesting event occurred after the U.S. regulator acknowledged three separate 19b-4 filings for spot-based XRP ETFs from Cboe BZX and Nasdaq.
This move unlike the previous year, this action suggests a clear evolution in the regulator’s perspective on cryptocurrency and XRP enthusiasts highly expect the U.S SEC to approve a spot XRP ETF.
What’s catching is that in the recent development, the SEC has arranged a closed-door meeting( which is not the first) on Fwbruary 27, Thursday. An interesting event in this closed-meeting is that the regulator has directly highlighted the inclusion of discussions surrounding XRP ETF.
More emphasis has been made on Cboe’s proposal to list the Spot product, stating;
Cboe BZX Exchange, Inc. (“BZX” or “the Exchange”) is filing with the Securities and Exchange Commission a proposed rule change to list and trade shares of the Bitwise XRP ETF under BZX Rule 14.11 (e)(4), Commodity-Based Trust Shares.
Grayscale Investments’ proposal to convert its $16 million XRP trust into an exchange-traded fund (ETF) has entered the SEC’s review phase. After being the first XRP ETF filing acknowledged by the SEC, its official publication in the Federal Register triggered a 240-day review period. The SEC’s decision is expected by October 18, 2025.
While the crypto community anticipates swift approval, the SEC’s agenda remains unclear. Adding to the intrigue, speculation persists regarding a potential Ripple lawsuit settlement. Experts suggest this settlement may precede the ETF approval, citing the lawsuit’s complexity and the SEC’s lengthy ETF review process.
Despite Polymarket’s odds of an XRP ETF approval jumping to a significant 80%, indicating strong market optimism, XRP’s price has fallen to a 23-day low. This decline occurs as XRP seeks to become the third SEC-approved cryptocurrency ETF, following Bitcoin and Ether.
Meanwhile, Ripple’s XRP is at the time of writing experiencing a slight decline. Notably XRP is swapping hands with $2.17 after a 10.94% decline in the past 24 hours. Also, XRP’s market cap is standing at $125.7B.