- SEC to decide on Grayscale’s XRP ETF by October 18, 2025, after a 240-day review.
- The acknowledgment of Grayscale’s XRP ETF application initiates a 21-day period for public comments.
- The XRP ETF approval chances have risen to 81% following positive signals from regulators.
The United States Securities and Exchange Commission (SEC) has acknowledged Grayscale’s XRP ETF 19b-4 filing to the Federal Register. According to FOX Business Journalist Eleanor Terrett, this action initiates a 240-day review process, with the final decision deadline set for October 18, 2025.
🚨NEW: @Grayscale’s $XRP ETF (19b-4 filing) has officially been posted to the Federal Register.
— Eleanor Terrett (@EleanorTerrett) February 20, 2025
All this means is that the clock starts now for the @SECGov to engage and either approve or deny on or before October 18. pic.twitter.com/dhMSvOcSXF
Grayscale filed the application on January 30 by NYSE Arca to convert the existing XRP Trust into a spot-based ETF. The SEC acknowledged the filing on February 13 and has now posted it for public review. Consequently, the 21-day comment period enables the stakeholders to forward comments before further regulatory assessments are conducted.
XRP ETF Review Process Underway
The evaluation to be made by the SEC will relate to matters of regulation, protection of its investors, and market manipulation. The review also explores the legal status of the XRP token, which makes it the subject of a lawsuit by the SEC against Ripple Labs. The regulator previously showed restraint with altcoin ETF reviews because of concerns about manipulated prices.
The legal filing by Grayscale stands among six acknowledged XRP ETF applications. Other issuers include Bitwise, Canary Capital, 21Shares, WisdomTree, and CoinShares. These filings are expected to be posted in the Federal Register soon.
Grayscale’s ETF will serve as an indicator of the evolving attitude of the SEC towards altcoin ETFs. The new appointment of Acting Chair Mark Uyeda, along with other leadership changes has created positive expectations regarding regulatory changes. New leadership at the SEC could lead to favorable changes for the Ripple lawsuit and better prospects for XRP ETF approval.
Currently, the probability of an XRP trading in an ETF in 2025 has improved to 81% from the previous day’s 80%. Investors still maintain hope as the SEC continues to process several crypto ETF applications.
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