• The SEC has acquired six XRP ETF functions over the past a number of weeks as curiosity in conventional crypto funding autos continues rising.
• Coinshares despatched a proposal for XRP and Litecoin ETFs whereas Grayscale despatched one for XRP amid a number of proposals for Solana ETFs.

The SEC has acquired at least six functions for XRP exchange-traded funds from main issuers like Canary Capital, Grayscale, Bitwise, WisdomTree, 21Shares, and Coinshares.

The newest utility, Grayscale, started the 21-day remark interval on Friday the place members of the general public can submit suggestions on the proposed ETF.

Whereas this occurs, 5 Solana ETF functions from 21Shares, Bitwise, Grayscale, VanEck, and Canary await a call.

The rise of curiosity in ETFs

The latest swarm of ETF functions is emblematic of a shift within the regulatory panorama to a extra pleasant atmosphere. This shift started on the twilight of Gary Gensler’s tenure with the approval of the Bitcoin and Ethereum ETFs.

Now that Mark Uyeda, a pro-crypto official, is in workplace, mixed with probably the most pro-crypto Congress the US has ever seen, the regulatory panorama is anticipated to be friendlier. Moreover, Ripple Labs’ win towards Gensler’s SEC has additionally positioned it in a beneficial progress place.

President Trump signed an government order to create a sovereign wealth fund that can embrace cryptocurrencies. Whereas Bitcoin is anticipated to be on the record, latest developments could place XRP within the fund as nicely.

In January, Trump met with Brad Garlinghouse, CEO of Ripple, who’s pushing for the sovereign wealth fund to comprise multiple cryptocurrency, ideally XRP as nicely.

Some ideas on maximalism… let me say this as clearly as I can – the crypto business has an actual shot, right here and now, to attain the numerous objectives we now have in frequent, IF we work collectively as an alternative of tearing one another down. This isn’t, and by no means will probably be, a zero-sum recreation.

• I personal…

— Brad Garlinghouse (@bgarlinghouse) January 27, 2025

An XRP ETF approval might cement the crypto as a candidate for the reserve.

Ripple is the third largest crypto by market cap and trades at $2.48 as of publishing.