The race to launch a spot-based XRP exchange-traded fund (ETF) in the U.S. is gaining more traction, with the U.S. Securities and Exchange Commission (SEC) acknowledging a filing submitted by crypto-focused investment company CoinShares.
This is the fourth XRP ETF filing that has been acknowledged by the agency. The SEC previously asked for comments on competing proposals submitted by Grayscale, 21Shares and Bitwise.
Godfrey BenjaminThe agency is yet to acknowledge the filings that have been submitted by Canary Capital and WisdomTree.
Notably, the odds of the SEC approving such a product as early as this year currently stand at 78% on Polymarket. They have remained relatively unchanged over the past month.
Meanwhile, former SEC official John Reed Stark recently predicted that the SEC would abandon its appeal against Ripple.
Dan Burgin
Vladislav Sopov