Grayscale wants to launch another couple of ETFs, this time for XRP and Dogecoin. And guess what?
The SEC has actually acknowledged the filings. Imagine reading this five years ago.
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It’s working
The SEC gave Grayscale’s paperwork the nod on February 13, and this starts a 240-day countdown for them to make a decision.
If everything goes according to plan, we should know by mid-October whether these ETFs are a go.
Interestingly, the SEC seems to be warming up to crypto ETFs in general. Over the past couple of weeks, they’ve also acknowledged applications for Litecoin and Solana ETFs.
Remember how the SEC, under its previous leadership, wasn’t exactly a fan of these things?
They rejected Solana ETF applications and even had Grayscale fighting tooth and nail to get its Bitcoin trust converted into an ETF. It seems like the winds are indeed changing in the crypto world.
ETFs everywhere?
Now, what are the odds of these XRP and Dogecoin ETFs actually happening?
Bloomberg ETF analysts James Seyffart and Eric Balchunas, who seem to have a crystal ball when it comes to ETFs, are putting the chances at 65% and 75%, respectively, before the end of 2025.
They’re even more optimistic about a Litecoin ETF, giving it a 90% chance of approval this year.
Ready or not
Of course, there’s a catch, because XRP’s security status is still up in the air, especially with the SEC’s lawsuit against Ripple Labs.
Seyffart thinks an XRP ETF is unlikely to be approved until that whole legal drama is resolved.
Ripple did score a partial win in court last year when it was ruled that XRP wasn’t a security when sold on secondary markets. But the SEC is appealing, so the stroy isn’t over yet.
Dogecoin, on the other hand, might have an easier path. It hasn’t been labeled as a security risk and shares similarities with Bitcoin, which already has approved ETFs. So, sounds crazy, but it may get its ETF before the „normal” coins.
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