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XRP News: Grayscale’s XRP ETF Faces SEC Countdown – Decision by Oct 18!
Grayscale has officially reached a pivotal moment in its journey to launch an XRP exchange-traded fund (ETF). The U.S. Securities and Exchange Commission (SEC) has posted the company’s 19b-4 filing to the Federal Register, marking the start of the review period. This development sets the stage for the SEC’s decision, which is now expected by October 18.
While this milestone doesn’t guarantee approval, it does initiate a critical process that will ultimately determine the fate of Grayscale’s XRP ETF proposal. The regulatory body has initiated a 240-day review process, following the acknowledgment of the filing on February 14. This step includes a 21-day public comment period, during which stakeholders can provide their feedback and insights.
The SEC will subsequently analyze these comments and assess the application before making an informed decision by October 18. The regulatory body has until this date to decide whether to approve, reject, or extend its evaluation of Grayscale’s XRP ETF proposal.
Despite this progress, the proposed ETF faces significant regulatory hurdles. The ongoing legal battle between the SEC and Ripple has created uncertainty surrounding the approval process for an XRP ETF. As a result, there is a heightened level of risk associated with this decision.
Source: coinpedia.org
