SEC Admits Grayscale’s XRP and Dogecoin ETF Filings

The US Securities and Exchange Commission (SEC) has formally accepted NYSE Arca’s application to list and trade shares of the Grayscale XRP Trust and Grayscale Dogecoin Trust.

This acknowledgment initiates the regulator’s review process, which, while not ensuring approval, marks a shift from the SEC’s previous hesitance that led to the withdrawal of similar applications.

During the review process, the SEC has opened a 21-day public comment period for the applications submitted through NYSE Arca, allowing market participants to provide feedback on the proposed ETFs. Following this period, the SEC will decide whether to approve, disapprove, or extend its review.

The application for the Grayscale XRP Trust comes in the midst of an ongoing legal dispute between Ripple and the SEC regarding the classification of XRP as a security.

Last month, the SEC filed a challenge against a July 2023 court ruling that partially dismissed claims against Ripple.