- If approved, the Dogecoin and XRP ETFs will trade on the NYSE Arca exchange
- The SEC has 240 days to approve or reject the filings once they have been submitted to the SEC’s federal register
- Last week, the Cboe filed four XRP ETFs on behalf of 21Shares, Bitwise, Canary Capital, and WisdomTree
The US Securities and Exchange Commission (SEC) has acknowledged 19b-4 filings from Grayscale to list spot Dogecoin and XRP exchange-traded funds (ETFs).
The SEC announced the acknowledgements of the Grayscale Dogecoin Trust and the Grayscale XRP Trust on February 13. If approved, NYSE Arca will list the shares of the two trusts.
The 240-day window countdown will only begin once both filings have been submitted to the SEC’s federal register.
Multiple ETFs
Over the last few weeks, various organizations have submitted 19b-4 forms to the SEC to list and trade crypto ETFs.
Last week, the Chicago Board Options Exchange (Cboe) filed four separate filings on behalf of issuers to launch spot XRP exchange-traded funds (ETFs). These were filed for 21Shares, Bitwise, Canary Capital, and WisdomTree.
In October, Bitwise filed an S-1 form with the SEC for an XRP ETF. Similarly, Canary Capital filed for an XRP ETF last year, reflecting its broader strategy of bringing multiple crypto ETFs to the market.
This round of ETF forms comes as the SEC is undergoing a major shift, which could see a more crypto-friendly approach. Crypto-friendly Mark Uyeda is currently the acting chair of the SEC.
The odds are on a Litecoin ETF
Despite a push for XRP ETFs, Bloomberg analysts believe that a Litecoin ETF has a 90% chance of being approved in 2025.
James Seyffart and Eric Balchunas looked at the spot crypto ETFs, mainly focusing on Dogecoin, Litecoin, Solana, and XRP. In their opinion – after Litecoin – a Dogecoin ETF has a 75% chance of approval, a Solana ETF has a 70% chance, and an XRP ETF has a 65% approval rating.
Seyffart added that it’s unlikely the market will see an XRP ETF until the whole Ripple/XRP/SEC case is settled, finished, or has some sort of outcome.
“The SEC needs to untangle that mess,” he said.
Nasdaq filed two 19b-4 forms with the US Securities and Exchange Commission (SEC) on behalf of CoinShares for Litecoin and XRP exchange-traded funds (ETFs).
Nasdaq is seeking approval to list and trade a CoinShares Litecoin ETF and XRP ETF after CoinShares submitted its S-1 filings in January.