According to PANews, the U.S. Securities and Exchange Commission (SEC) has officially accepted the 19b-4 application submitted by Grayscale and the New York Stock Exchange (NYSE) to convert the Grayscale XRP Trust into an exchange-traded fund (ETF). While this acceptance does not guarantee approval, it indicates a more open stance by the SEC towards cryptocurrency ETFs, rather than outright rejection.
Previously, exchanges withdrew applications for Solana ($SOL) ETFs due to the SEC's stringent position. However, the acceptance of the XRP ETF application suggests that ETFs for cryptocurrencies like Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), and XRP still have a chance of approval. The SEC is expected to publish the application in the Federal Register within a few days, initiating a 240-day review period.
Additionally, applications from institutions such as Bitwise, 21Shares, Canary Funds, and WisdomTree for XRP ETFs are still under SEC review.