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SEC formally accepts CoinShares XRP ETF applications for review
The US Securities and Exchange Commission (SEC) has formally acknowledged Nasdaq’s filing for the CoinShares XRP ETF, opening a 21-day public comment period. This move represents the second phase in the two-step process for proposing crypto ETFs to the regulatory body.
As part of this decision, the SEC will evaluate whether to approve, disapprove, or initiate proceedings after the comment period concludes. This acknowledgment signifies the progression into the evaluation phase, following the Federal Register publication.
CoinShares has made submissions to the SEC for both an XRP ETF and a Litecoin ETF. The exchange filed 19b-4 forms for both products, subsequent to CoinShares’ S-1 filing submission last month.
Bloomberg analysts have forecasted a probability of approval for XRP ETFs at 65%, suggesting that the possibility of approval is considerable.
Source: cryptobriefing.com
