灰度的XRP ETF在法規變化期間在SEC射擊下

SEC將專注於投資者保護，市場操縱風險以及XRP本身的監管狀況。

The United States Securities and Exchange Commission (SEC) has approved an application from Grayscale to reclassify its XRP Trust as an exchange-traded fund (ETF) that will track a spot exchange-traded product.

美國證券交易委員會（SEC）已批准了Grayscale的申請，以將其XRP Trust重新分類為交易所交易基金（ETF），該基金將跟踪現貨交易所買賣產品。

NYSE Arca filed the application on January 30th, kicking off a 240-day review process that will culminate in a decision by October 18, 2025.

NYSE ARCA於1月30日提交了該申請，開始了240天的審查過程，該過程將在2025年10月18日之前的決定中達到頂峰。

The SEC’s approval was announced in the Federal Register on February 13th, opening a 21-day comment period. During this time, investors and industry participants can submit their feedback before the regulatory authority proceeds with further assessments.

SEC的批准於2月13日在聯邦公報上宣布，開放了21天的評論期。在此期間，投資者和行業參與者可以在監管機構進行進一步評估之前提交反饋。

Grayscale's XRP ETF Faces SEC Scrutiny Amid Regulatory Shifts

灰度的XRP ETF面臨法規班次的SEC審查

The SEC will focus on investor protection, market manipulation risks, and the regulatory status of XRP in its assessment. The SEC's approval will be crucial for the ETF's fate, given that the XRP token is at the center of a Ripple Labs-SEC lawsuit.

SEC將專注於投資者保護，市場操縱風險以及XRP評估中的監管狀況。鑑於XRP令牌是Ripple Labs-SEC訴訟的中心，SEC的批准對ETF的命運至關重要。

Moreover, the SEC has historically been cautious in approving altcoin ETFs due to concerns over price manipulation.

此外，由於對價格操縱的擔憂，SEC在歷史上一直在批准Altcoin ETF方面一直保持謹慎。

Grayscale's application is one of six filed by different issuers seeking approval for an XRP ETF. Bitwise, Canary Capital, 21Shares, WisdomTree, and CoinShares have also filed their respective applications.

Grayscale的申請是尋求XRP ETF批准的不同發行人提交的六項申請之一。 Bitwise，Canary Capital，21shares，WisdomTree和Coinshares也提交了各自的申請。

The Federal Register filings highlight the growing demand for altcoin-based ETFs, which is expected to heat up the competition among providers.

聯邦公報申請強調了對基於Altcoin的ETF的需求不斷增長，這有望激發提供者之間的競爭。

Recent regulatory developments, such as the SEC's appointment of Acting Chair Mark Uyeda and his positive stance on crypto, have fueled optimism for the approval of altcoin ETFs.

最近的監管發展，例如SEC任命代理主席馬克·烏耶達（Mark Uyeda）以及他對加密貨幣的積極立場，激發了對Altcoin ETF批准的樂觀。

As investor sentiment improves, the probability of an XRP ETF listing in 2025 has reportedly increased to 81%.

隨著投資者情緒的改善，據報導，XRP ETF上市的可能性已增加到81％。

Grayscale has been at the forefront of the push for crypto ETFs, having successfully converted its Bitcoin Trust into a spot Bitcoin ETF. However, the landscape with the SEC for altcoin ETFs is still murky.

Grayscale一直處於推動加密ETF的最前沿，成功地將其比特幣信任轉換為比特幣ETF。但是，Altcoin ETF的SEC的景觀仍然模糊。

While altcoin products have seen approval, albeit with stricter parameters regarding liquidity, manipulation, and concerns over regulatory clarity, they differ from Bitcoin-based ones.

儘管Altcoin產品已經獲得了批准，儘管對流動性，操縱和對監管清晰度的擔憂有更嚴格的參數，但它們與基於比特幣的參數不同。

As the October 18th deadline draws closer, market participants are gearing up for the decision. Approval would pave the way for increased trading and adoption volume, while a rejection or delay would set the stage for further negotiations with regulators and impact future submissions. Ultimately, the decision will shape the future of crypto ETFs and influence investment strategies in the digital asset class.

隨著10月18日的截止日期越來越近，市場參與者正在為這一決定做準備。批准將為增加交易和採用量鋪平道路，而拒絕或延遲將為與監管機構的進一步談判奠定基礎，並影響未來的提交。最終，該決定將影響加密ETF的未來，並影響數字資產類別的投資策略。