Grayscale's XRP ETF proposal has been officially posted to the Federal Register, starting the 240-day review process by the SEC.
SEC's Review Process for the Application
Following the SEC’s acknowledgment, the countdown to October 18 has begun for its approval, denial, or extension. A 21-day public comment period is now open, allowing stakeholders and policymakers to provide feedback.
XRP's Legal Status and Approval Prospects
Several companies have filed for XRP ETFs, but only Grayscale's application has been added to the Federal Register. The XRP community hopes for the SEC's friendlier approach under the new interim chair, Mark Uyeda.
Political Influence on Ripple Case
Upcoming changes in the SEC could affect the Ripple case. Paul Atkins might support the government's plan to ensure regulatory clarity, while the first-ever Crypto Subcommittee has been established.
The decision on the XRP ETF could significantly impact the market and Ripple's future within the legal and political landscape.
