The U.S. Securities and Exchange Commission (SEC) is set to hold a closed-door meeting on February 27, 2025. Attention is drawn to the potential discussion of digital assets, particularly XRP.
SEC Meeting and Possible Topics
According to available information, the meeting will occur remotely and at the SEC’s headquarters in Washington, D.C. The agenda includes the institution and settlement of injunctive actions, administrative proceedings, and other enforcement matters. Though not confirmed by the SEC as a focal point, an additional document regarding a proposed XRP ETF further fuels speculation.
Bitwise XRP ETF Proposal
Cboe BZX Exchange, Inc. submitted a proposal on February 6, 2025, for the listing and trading of the Bitwise XRP ETF. The proposal falls under BZX Rule 14.11(e)(4), governing Commodity-Based Trust Shares. The trust is not defined as an investment company under the Investment Company Act of 1940 and is not classified as a commodity pool under the Commodity Exchange Act.
Implications for XRP and Crypto Market
The timing of the SEC meeting and the ETF filing has drawn attention as the agency navigates enforcement actions and policy regarding digital assets. The closed nature suggests sensitive legal and regulatory issues will be addressed. For XRP, the SEC's attention remains amidst the ongoing legal battle with Ripple Labs.
Market watchers will closely follow post-meeting developments and regulatory filings that might provide insight into the SEC’s stance on XRP’s classification and market involvement.
