Grayscale XRP ETF Acknowledgment by SEC This Week Will Signal How New Leadership Views Crypto

FOX Business Journalist Eleanor Terrett has suggested that the U.S. SEC could acknowledge Grayscale's 19b-4 filing for an XRP ETF this week.

FOX Business journalist Eleanor Terrett has suggested that the U.S. SEC could acknowledge Grayscale’s 19b-4 filing for an XRP ETF this week.

In a tweet, Terrett referenced a table from Bloomberg journalists James Seyffart and Eric Balchunas, suggesting that the SEC could acknowledge Grayscale’s XRP ETF 19b-4 filing as early as February 13.

The FOX Business journalist highlighted that the SEC usually has around 15 days to acknowledge a 19b-4 filing. She clarified that the Grayscale 19b-4 filing was submitted on January 30. As previously reported, NYSE Arca submitted the 19b-4 application to list and trade shares of Grayscale’s converted XRP Trust.

The filing is part of Grayscale’s efforts to convert its XRP Trust to a spot ETF, similar to what the asset manager did with its Bitcoin and Ethereum Trusts.

According to Terrett, the SEC’s decision to acknowledge or ignore Grayscale’s XRP ETF 19b-4 filing will provide insights into how the commission’s current leadership views the cryptocurrency.

It is worth mentioning that the previous SEC leadership, headed by Gary Gensler, considered XRP an unregistered security. However, a federal court ruled that the token is not a security in itself.

With the SEC not viewing XRP as a commodity and has yet to acknowledge a 19b-4 filing for an XRP ETF, Seyffart and Balchunas projected a 65% chance of approval for an XRP ETF this year.

The XRP odds are lower than those the Bloomberg analysts set for Litecoin (90%), Dogecoin (75%), and Solana (70%).

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

Interestingly, XRP’s odds could soar significantly if the SEC acknowledges Grayscale’s XRP ETF 19b-4 filing and resolves the Ripple lawsuit. In a follow-up tweet, Seyffart highlighted that XRP fans will likely not see an ETF tied to the token until the lawsuit is resolved.

Imminent Resolution?

There are speculations that the Ripple lawsuit is approaching an imminent resolution, driven by the SEC’s ongoing policy shift. The regulator is making key moves to provide clear rules for the industry through its recently launched Crypto Task Force.

As reported earlier, the SEC and Binance filed a joint motion to pause proceedings in their lawsuit for 60 days. The parties noted that the task force could impact the outcome of the case and potentially lead to an early resolution.

According to Terrett, the SEC could also make a similar move in other non-fraud litigation targeting crypto companies like Ripple.