In an interesting development, the U.S. SEC acknowledged three separate 19b-4 filings for spot-based XRP ETFs from Cboe BZX and Nasdaq.
The SEC recognized the filings yesterday in three separate statements. Notably, these exchanges seek to list shares of XRP ETFs from WisdomTree, Canary Capital, and CoinShares.
Request for Public Comments
According to the statement, the SEC called on the public to issue comments on the XRP ETF filings to ascertain whether they are consistent with Section 19(b)(1) of the Securities Exchange Act of 1934. Interested individuals can send electronic or paper comments within 21 days after the filings are published in the federal register.
Publishing these filings in the federal register automatically opens a 240-day window for the SEC to approve or deny XRP ETF applications from Cboe and Nasdaq on behalf of Canary Capital, WisdomTree, and CoinShares.
SEC Acknowledges Six XRP ETF Applications
These acknowledgments mark the sixth XRP ETF application the SEC has recognized since last week. As previously reported, the SEC acknowledged similar filings from Bitwise, Grayscale, and 21Shares.
The commission acknowledged these filings within a week, bringing the potential launch of a spot-based XRP ETF closer.
Despite the SEC acknowledging multiple XRP ETF filings, many still believe the commission’s lawsuit against Ripple could influence its decision on these applications.
Currently, the SEC is taking significant steps to change its previous enforcement-driven approach. This is reflected in the creation of an internal crypto task force, downsizing of the enforcement unit, and freezing of crypto-related lawsuits like the Binance case.
Why Hasn’t the SEC Halt the Ripple Lawsuit?
XRP community members also expect the SEC to halt proceedings in the Ripple lawsuit. Explaining the reason why the SEC has not paused the Ripple litigation, FOX Business Journalist Eleanor Terrett, citing multiple legal sources, suggested that the commission is only prioritizing cases with immediate deadlines.
According to her, the Ripple case’s next court deadline is April 16. The company will file its reply to the SEC’s appeal argument on this date.
Meanwhile, the XRP community has remained optimistic about the potential launch of at least one XRP ETF this year. The odds of this happening currently stands at 80%, according to data from PolyMarket.
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