灰度的XRP ETF在法规变化期间在SEC射击下

SEC将专注于投资者保护，市场操纵风险以及XRP本身的监管状况。

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.

美国证券交易委员会（SEC）已批准了Grayscale的申请，以将其XRP Trust重新分类为交易所交易基金（ETF），该基金将跟踪现货交易所买卖产品。

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于1月30日提交了该申请，开始了240天的审查过程，该过程将在2025年10月18日之前的决定中达到顶峰。

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的批准于2月13日在联邦公报上宣布，开放了21天的评论期。在此期间，投资者和行业参与者可以在监管机构进行进一步评估之前提交反馈。

Grayscale's XRP ETF Faces SEC Scrutiny Amid Regulatory Shifts

灰度的XRP ETF面临法规班次的SEC审查

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将专注于投资者保护，市场操纵风险以及XRP评估中的监管状况。鉴于XRP令牌是Ripple Labs-SEC诉讼的中心，SEC的批准对ETF的命运至关重要。

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

此外，由于对价格操纵的担忧，SEC在历史上一直在批准Altcoin ETF方面一直保持谨慎。

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的申请是寻求XRP ETF批准的不同发行人提交的六项申请之一。 Bitwise，Canary Capital，21shares，WisdomTree和Coinshares也提交了各自的申请。

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

联邦公报申请强调了对基于Altcoin的ETF的需求不断增长，这有望激发提供者之间的竞争。

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.

最近的监管发展，例如SEC任命代理主席马克·乌耶达（Mark Uyeda）以及他对加密货币的积极立场，激发了对Altcoin ETF批准的乐观。

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

随着投资者情绪的改善，据报道，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一直处于推动加密ETF的最前沿，成功地将其比特币信任转换为比特币ETF。但是，Altcoin ETF的SEC的景观仍然模糊。

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

尽管Altcoin产品已经获得了批准，尽管对流动性，操纵和对监管清晰度的担忧有更严格的参数，但它们与基于比特币的参数不同。

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.

随着10月18日的截止日期越来越近，市场参与者正在为这一决定做准备。批准将为增加交易和采用量铺平道路，而拒绝或延迟将为与监管机构的进一步谈判奠定基础，并影响未来的提交。最终，该决定将影响加密ETF的未来，并影响数字资产类别的投资策略。