The US Securities and Exchange Commission (SEC) has acknowledged Grayscale’s 19b-4 filing for its Dogecoin and XRP ETF. This paves the way for a potential approval of this fund, a development that provides a bullish outlook for the Dogecoin and XRP prices.
US SEC Acknowledges Grayscale’s Dogecoin And XRP ETF Filing
In a release, the US SEC acknowledged Grayscale’s Dogecoin and XRP ETF filings and called for public comments on the proposed funds. This has sparked optimism about the potential approval of these funds, as this marks the first step towards the approval (or denial) process.
Grayscale had earlier filed 19b-4s through the New York Stock Exchange (NYSE) to convert its Dogecoin and XRP Trusts to Dogecoin and XRP ETFs. In addition to Grayscale, asset managers Bitwise and REX Shares have also filed to offer a Dogecoin ETF. Meanwhile, Bitwise, Canary Capital, 21Shares, WisdomTree, and REX Shares have filed to offer an XRP ETF.
Earlier this week, Bloomberg analysts Eric Balchunas and James Seyffart predicted that there is a 75% and 65% chance of the US SEC approving a Dogecoin and XRP ETF, respectively, this year.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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