FOX Business journalist Eleanor Terrett suggests that the U.S. SEC might acknowledge Grayscale’s XRP ETF filing by February 13, 2025. This comes amid significant regulatory changes and potential resolution of Ripple-related lawsuits.
Possibility of XRP ETF Approval
Eleanor Terrett highlighted that the SEC typically acknowledges such filings within 15 days, which could indicate the current SEC leadership's stance on XRP. Previously, under former SEC Chair, XRP was considered an unregistered security, a position that was successfully challenged in court.
Analytical Forecasts and Legal Aspects
Bloomberg analysts James Seyffart and Eric Balchunas estimate a 65% chance of XRP ETF approval this year, lower than other cryptocurrencies such as Litecoin and Dogecoin. These forecasts could change if the SEC acknowledges Grayscale’s filing and the Ripple lawsuit concludes. Pro-lawyer Jeremy Hogan echoed similar sentiments, indicating approval is not likely before these disputes are resolved.
Regulatory Changes and Market Impact
XRP's prospects are also rising with the SEC’s newly formed Crypto Task Force aiming to clarify crypto regulations. The SEC and Binance's joint motion to pause their lawsuit proceedings hints at possible similar moves in cases like Ripple’s.
In conclusion, the potential approval of the XRP ETF and regulatory changes offer new opportunities for the cryptocurrency, though key aspects are linked to the settlement of legal disputes and regulatory acknowledgments.
