SEC Acknowledges 21Shares XRP ETF Filing, XRP Price To $59?
The post SEC Acknowledges 21Shares XRP ETF Filing, XRP Price To $59? appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission (SEC) has acknowledged the XRP exchange-traded fund (ETF) application submitted by 21Shares. This development marks another step in the growing interest in XRP-based financial products. The filing’s acknowledgment comes amid increased speculation about the potential approval of an XRP ETF. The latest market analysis suggests that XRP could see a price surge if the ETF is approved, with some analysts pointing to a possible $59 valuation. US SEC Acknowledges 21Shares XRP ETF Filing According to a filing, the US SEC has accepted the application for an XRP ETF from 21Shares, which aims to track the performance of the Ripple-linked digital asset. The firm initially submitted its filing in early November, joining other asset managers seeking approval for cryptocurrency-based ETFs. This is not the first XRP ETF application to be acknowledged by the SEC. Recently, Grayscale’s filing for a similar financial product was also recognized by the regulator. According to ETF analyst Nate Geraci, this acknowledgment sends a “strong message” about the SEC’s approach to crypto ETFs. Growing Competition in the XRP ETF Market Multiple investment firms have submitted applications to launch spot XRP ETFs. Apart from 21Shares and Grayscale, companies such as WisdomTree and Bitwise have also filed proposals. These firms seek to provide investors with regulated access to XRP without requiring direct ownership of the asset. Earlier this month, the Cboe BZX Exchange submitted a regulatory filing to list shares of the proposed XRP ETFs. The SEC’s acknowledgment of these applications indicates that the review process is moving forward, though final approval remains uncertain. Will XRP ETF Approval Push Price To $59? The acknowledgment of XRP ETF applications has fueled discussions about potential price movements. A recent analysis of XRP’s market cap chart suggests a double-bottom breakout pattern, which could push XRP’s valuation…
Filed under: News - @ February 15, 2025 5:21 am