The US Securities and Exchange Commission admitted Submission of Crypto Asset Manager GrayScale, SPOT XRP and Dogecoin Exchange Transactions (ETF).
The approval of the GrayScale Form 19B-4 for the SEC’s Grayscale XRP Trust means that the agency for the Grayscale Dogecoin Trust will soon review and decide on the application form within the 240-day deadline.
The 240 -day timer begins when the submission of GrayScale is submitted to the Federal Register on the SEC and usually occurs within a few days. If you have entered now, the deadline for the SEC will be in mid -October.
Excerpt from the official recognition of the SEC for GrayScale’s Grayscale application to list the Spot Dogecoin ETF. source: secretary
In the last two weeks, the SEC has recognized an application for Litecoin (LTC) and Solana (SOL) ETF, indicating that the SEC leadership in the Trump administration has changed tactics to encryption.
Under Gary Gensler, former SEC president, the institution rejected at least two solar or ETF applications, and Gray Scale had to carry out a long court battle to consider the transition to ETF of Bitcoin trust. I did it.
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Bloomberg ETF analyst James Seyffart and Eric Balchunas predicted earlier this month that the probability of the XRP (XRP) and Dogecoin (Doge) ETF bids will be 65%and 75%.
The pair also gives 90% chance of Litecoin (LTC) ETF, which was approved before the end of the year.
Seyffart has a question about XRP’s security status, predicting that the XRP ETF will not be approved until the SEC lawsuit for Ripple Labs is completely resolved.
Ripple won partial victory as it was not security when XRP was sold in the second market in August 2023. But when the SEC sold XRP to retail investors, the decision appealed to the decision, claiming that the Blockchain Payments Company violated the Securities Law that violated the Securities Law.
It can be simpler because Dogecoin’s path to SEC approval can be security. Cryptocurrency also adopts many aspects of Bitcoin, which SEC approves ETF products.
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