SEC Acknowledges Another XRP ETF Filing, Boosting Market Hopes

More from the Author Dennis Gatheca

The SEC has acknowledged multiple XRP ETF filings, including those from Bitwise, Grayscale, and 21Shares, increasing optimism for approval in 2025, with Polymarket placing the odds at nearly 80%.

However, some investors, like Jason Calacanis, warn that an approval could cause “chaos,” citing concerns over XRP’s centralized nature.

The U.S. Securities and Exchange Commission (SEC) has once again acknowledged another filing for a spot XRP exchange-traded fund (ETF), signaling increasing momentum for the cryptocurrency market. This latest filing, submitted by Bitwise, marks another step forward for XRP enthusiasts who hope to see a regulated investment vehicle tied to the digital asset.

A Wave of Acknowledgments

Earlier this month, Bitwise had initially filed its application to launch an XRP ETF. The SEC’s recent acknowledgment adds to a growing list of similar filings, including those from Grayscale and 21Shares, which were recognized just last week. This series of filings is being interpreted as a crucial development, considering the SEC’s prolonged legal battle with Ripple, the company behind XRP.

While an acknowledgment does not guarantee approval, it is a critical milestone in the regulatory process. It demonstrates that the SEC is actively reviewing these applications, and it increases the likelihood of eventual approval.

What Are the Odds of Approval?

With the SEC recognizing multiple XRP ETF filings, confidence in their approval is rising. According to Polymarket, a popular crypto-focused betting platform, the probability of an XRP ETF being greenlit in 2025 has surged to nearly 80%. This bullish sentiment reflects optimism that XRP will follow in the footsteps of Bitcoin, which recently saw ETF approvals that dramatically influenced its market position.

Not Everyone Is on Board

Despite the enthusiasm surrounding these developments, not everyone in the financial sector is convinced that an XRP ETF is a good idea. Jason Calacanis, a well-known angel investor, has voiced concerns that approving a spot XRP ETF would lead to “chaos.” He argues that XRP functions as a “centralized” security, a stance that aligns with the SEC’s previous arguments in its lawsuit against Ripple.

What’s Next for XRP?

The coming months will be crucial for the fate of an XRP ETF. The SEC will review these filings in detail, weighing the potential risks and benefits before making a decision. If approved, an XRP ETF could open the doors for institutional investors, further legitimizing the cryptocurrency and potentially boosting its value.

For now, XRP investors and enthusiasts will be closely watching the SEC’s next moves, hoping for a landmark decision that could reshape the future of the digital asset market.

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