SEC acknowledges Bitwise filing for XRP ETF

The SEC acknowledged the proposed rule change to list and trade shares of Bitwise XRP (CRYPTO:XRP) ETF on February 18, 2025.  

This initiates a period for public comments, with interested parties given 21 days to weigh in on the proposal.  

Following the comment period, the SEC can either approve, disapprove, or extend the review process.  

The SEC will assess whether the proposed rule change adheres to established regulations and protects investors.  

Bitwise's confidence in XRP's compliance with legal standards underscores the belief that the ETF can operate within regulatory guidelines.  

The SEC is also reviewing similar XRP ETF filings from Grayscale and NYSE Arca.  

Bloomberg analysts estimate a 65% approval probability, while Polymarket predictions show a 78% chance of approval by December 2025.  

A Commodity-Based Trust listing request has also been submitted by MEMX to the SEC for an XRP ETF.  

Despite the regulatory advancements, XRP's market performance has lagged, experiencing a decline of over 5% to below $2.5.  

According to experts, the ongoing legal dispute between the SEC and Ripple creates uncertainty surrounding the approval of an XRP ETF.  

"The SEC's lawsuit against Ripple needs to be concluded first before a potential approval of an XRP ETF," analysts suggest.  

The legal outcome may influence the SEC's decision regarding XRP-based investment products.  

"An XRP ETF is inevitable," Ripple CEO Brad Garlinghouse stated.  

However, Bloomberg analysts suggest Litecoin (CRYPTO:LTC) and Dogecoin (CRYPTO:DOGE) could be next in line for an ETF before XRP.

At the time of reporting, the XRP (XRP) price was $2.56.