Key Takeaways:
- SEC Review Begins: The SEC has acknowledged Grayscale’s filings for spot XRP and Dogecoin ETFs, initiating a 240-day review process.
- Expanding Crypto ETFs: The SEC has also accepted applications for Litecoin and Solana ETFs, reflecting a potential shift in stance on crypto assets.
- Approval Odds: Analysts estimate a 65% chance for an XRP ETF and 75% for DOGE by 2025, but XRP’s approval may depend on the ongoing Ripple lawsuit.
The U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale’s filings for spot XRP and Dogecoin (DOGE) exchange-traded funds (ETFs), marking the start of the regulatory review process.
According to a Feb. 13 SEC notice, the agency has accepted Grayscale’s Form 19b-4 filings for its XRP and DOGE trusts.
SEC Acknowledges Grayscale XRP Trust And DOGE ETF Proposals
— The Wolf Of All Streets (@scottmelker) February 13, 2025
The SEC has acknowledged Grayscale’s proposal for a Dogecoin ETF and is seeking public comments, marking the second step in the approval process with a 21-day review period.
Grayscale, which launched its Dogecoin Trust… pic.twitter.com/YcMcbQTkKh
The SEC now has up to 240 days to decide on the proposals, with a final decision expected by mid-October.
This acknowledgment follows recent SEC reviews of ETF applications for Litecoin (LTC) and Solana (SOL), indicating a possible shift in the regulator’s stance toward crypto-based investment products.
Previously, the SEC had rejected similar applications under past leadership, and Grayscale had to engage in legal battles to secure Bitcoin ETF approvals.
Bloomberg analysts estimate a 65% chance of XRP ETF approval and a 75% likelihood for DOGE by 2025.
A Litecoin ETF has an even higher probability, at 90%, by the end of 2024.
However, XRP faces additional challenges due to the ongoing SEC lawsuit against Ripple Labs, raising concerns about its security status.
In contrast, DOGE, which has not been classified as a security, may have a smoother path to approval, given its similarities to Bitcoin.
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