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Breaking: Grayscale Files for Staking on Ethereum ETF Product
Grayscale, the leading crypto asset manager, has filed a proposal to convert its product into an ETF (Exchange-Traded Fund) on Ethereum, marking a significant move in the industry. According to reports, this filing was acknowledged by the SEC (Securities and Exchange Commission) in mid-February.
This development is noteworthy as it would be the very first XRP ETF filing that has received acknowledgement from the regulator, thereby setting a precedent for future proposals of similar nature.
As reported by U.Today, investment behemoth Franklin Templeton joined the XRP ETF race earlier today. BlackRock and Fidelity, the biggest players in the cryptocurrency ETF sector, are yet to file identical proposals.
The odds of XRP ETF approval have not been affected by this recent filing, currently standing at 75%, as reported by Polymarket bettors.
This decision is still pending from the SEC, with the regulatory body now expected to file identical 45-day extensions for the rest of the XRP proposals from firms like 21Shares and Canary Capital.
In summary, Grayscale has filed a proposal to convert its product into an ETF on Ethereum, marking a significant move in the industry.
Source: https://u.today/breaking-sec-delays-xrp-etf-decision
