The U.S. Securities and Exchange Commission is set to hold a closed-door meeting this Thursday to discuss XRP ETF applications. The outcome remains uncertain due to the ongoing Ripple lawsuit.
Current Status of XRP ETF
Last week, crypto enthusiasts focused on XRP as the SEC scheduled its closed-door meeting to discuss XRP-based ETF applications. Uncertainty continues due to the ongoing legal battle between SEC and Ripple.
NYSE Arca's Application and Response
On January 30, NYSE Arca filed a proposal to convert Grayscale's XRP Trust into a spot ETF. The SEC acknowledged this application on February 13, requesting public comment. This initiated a formal review process, increasing anticipation of the product's launch.
Global Perspectives and Expectations
Brazil has taken the lead over the U.S. in approving the first spot XRP ETF, fueling market optimism. The SEC's decision on the application is expected by October 18, 2025. Meanwhile, the community anticipates swift approval despite the complex lawsuit and extended ETF review timelines.
Despite market optimism and conjecture about a swift resolution, the fate of the XRP ETF at the federal level remains in question. Deliberations continue as the crypto community eagerly awaits the outcome.
