XRP ETF Application Advances: Grayscale and Solana Submissions Pave the Way for Regulated XRP Investments

Recent developments in the cryptocurrency regulatory landscape have sparked significant interest in Grayscale’s XRP ETF application. Alongside four other Solana ETF applications, filed by prominent firms such as VanEck and 21Shares, Grayscale’s submission has been officially recorded in the U.S. Securities and Exchange Commission (SEC) federal register as of February 21. This entry initiates a mandatory 21-day public comment period, during which stakeholders can voice opinions regarding these proposals. The SEC’s impending decision, expected by October 18, will determine the fate of these applications and their potential impact on the market.

XRP has demonstrated a remarkable growth trajectory, boasting an increase of over 381% in the past year, largely attributed to favorable legal outcomes and regulatory clarity. Analysts are particularly optimistic, noting potential interest from U.S. banks in utilizing XRP for internal transactions. Furthermore, the ongoing SEC lawsuit against Ripple, initiated in December 2020, has shaped market perceptions, as the agency claims Ripple raised $1.3 billion via unregistered sales. Industry experts, such as B2BINPAY CEO Arthur Azizov, suggest that the launch of the XRP ETF is not only likely but may occur swiftly contingent on the resolution of the SEC proceedings.