Grayscale's XRP and Dogecoin ETFs have been officially submitted to the SEC

Bittime - Grayscale, one of the largest digital asset managers, has officially submitted a proposal for an XRP ETF and a Dogecoin ETF to the US Securities and Exchange Commission (SEC). 

This move is a new milestone in the development of the digital asset market, given that the SEC has previously approved Bitcoin and Ethereum ETFs.

This submission marks the start of the formal review process by the SEC. As part of the regulatory procedure, the SEC has opened a 21-day public comment period, during which various parties can express their views before a final decision is made.

SEC Review Process for XRP and Dogecoin ETFs

After receiving Grayscale's XRP ETF and Dogecoin ETF submissions, the SEC is now entering the evaluation stage which covers various regulatory aspects. 

One of the initial stages in this process is the public comment period, during which investors and market participants can provide their views on the potential impact of these ETFs on the financial markets.

The SEC has several options after this period ends: approve the filing, reject it, or extend the review period for further evaluation. Although the SEC's initial recognition is a positive step, final approval is still not entirely certain.

Read also: Whale Crypto Buys 540 Million XRP, Here's the Proof!

The Effect of Regulation on XRP and Dogecoin ETFs

The XRP ETF filing comes amid legal uncertainty between Ripple and the SEC. Since 2020, the SEC has been trying to classify XRP as a security, while Ripple has denied the claim. 

This case is one of the factors that could influence the SEC's decision on the XRP ETF.

On the other hand, the Dogecoin ETF has a greater chance of being approved because this asset is not included in the securities category under existing regulations. 

Dogecoin's similarity to Bitcoin, which has already received ETF approval, could be a supporting factor in the SEC's evaluation process.

Impact of XRP and Dogecoin ETF Approval on the Market

If the SEC approves the XRP ETF and the Dogecoin ETF, the digital asset market could experience a significant surge in demand. With ETFs, institutional investors will have easier access to invest in XRP Ripple and Dogecoin through a well-regulated mechanism.

Digital asset ETFs also have the potential to increase the legitimacy of the crypto market in the eyes of regulators and traditional investors. 

In the case of Bitcoin and Ethereum ETFs, SEC approval has helped increase adoption and trading volume of both digital assets.

Read also: XRP Price Prediction February 17, 2025: Trends and Scenarios Today

Grayscale's Stance and Analyst Predictions

Grayscale has long fought for ETF approval for various digital assets, including Bitcoin and Ethereum. Ripple CEO Brad Garlinghouse stated that the XRP ETF filing is only a matter of time and expressed optimism that the SEC will approve it soon.

Meanwhile, Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate that the Dogecoin ETF has a 75% chance of being approved, while the XRP ETF has a 65% chance. Nevertheless, regulatory factors remain a major challenge for the XRP ETF.

Conclusion

Grayscale's application for the XRP ETF and the Dogecoin ETF is an important step in the evolution of the digital asset market. 

Although the approval process by the SEC is still ongoing, the chances for the Dogecoin ETF to be approved appear to be greater than for the XRP ETF, given the regulatory issues that still loom over XRP Ripple.

If these two ETFs get the green light from the SEC, the crypto market could see a surge in interest and wider adoption among institutional investors. 

Now, all eyes are on the SEC for a final decision that could determine a new direction for digital asset ETFs in the future.

FAQ

What are XRP ETFs and Dogecoin ETFs?

XRP ETF and Dogecoin ETF are exchange-traded funds that allow investors to gain exposure to XRP and Dogecoin digital assets without having to buy them directly.

Has the SEC approved the XRP and Dogecoin ETFs?

Currently, the SEC is still in the review stage and is opening a public comment period before deciding whether to approve or reject Grayscale's XRP and Dogecoin ETF filing.

Why is approval of the XRP ETF more difficult than Dogecoin?

XRP is still involved in a legal case with the SEC regarding its legal status as a security, while Dogecoin does not have similar regulatory issues, so the likelihood of approval is higher.

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References

coinspeaker.com, SEC Accepts Grayscale's XRP and Dogecoin ETF Applications, accessed February 17, 2025.

Author: AWW