SEC Acknowledges 19b-4 Filings By Grayscale For XRP And Dogecoin ETF Products

Grayscale XRP and Dogecoin ETFs Await SEC Approval

The United States Securities and Exchange Commission (SEC) has acknowledged the filing by cryptocurrency asset manager Grayscale for two exchange-traded funds (ETFs): a spot XRP ETF and a spot Dogecoin ETF.

Countdown to Decision

With the Forms 19b-4 filed with the SEC, the clock will soon start for the agency's review and decision-making process within the mandated 240-day period. The countdown will commence when Grayscale's filings are published in the SEC's federal register, typically within days of the initial submission.

SEC Acknowledges Other Crypto ETFs

Besides the XRP and Dogecoin ETF filings, Grayscale's spot XRP ETF is not the only proposal acknowledged by the SEC. In recent weeks, the regulator has also acknowledged similar funds for Litecoin (LTC) and Solana (SOL).

High Probability of Approval

According to Bloomberg ETF analysts James Seyffart and Eric Balchunas, there is a significant probability of approval for altcoin ETFs by the SEC in 2025. Seyffart and Balchunas estimate the odds of XRP and DOGE ETFs being approved this year at 65% and 75%, respectively.

XRP's Regulatory Hurdles

However, questions remain regarding the regulatory status of XRP due to the ongoing legal case between the SEC and Ripple Labs. Seyffart anticipates that an XRP ETF approval may be delayed until the resolution of this matter.

LTC ETF Prospects

On the other hand, Seyffart believes that a Litecoin ETF is more likely to gain SEC approval as the regulator may classify LTC as a commodity. According to Bloomberg analysts, the chances of a spot LTC ETF being approved in 2025 stand at 90%.