xrp-usd
Olumide Adesina•Friday, February 14, 2025•1 min read
The cryptocurrency market, and the XRP community in particular, is full of optimism as the Grayscale Investments’ application to convert its XRP Trust into a spot exchange-traded fund (ETF) is anticipated to be decided by the Securities and Exchange Commission (SEC) as early as today.
The possible approval would be a major turning point, boost greater institutional acceptance, and open the door to wider market participation.
This possible approval would be a major turning point, boost greater institutional acceptance, and open the door to wider market participation.
It’s projected that such an approval will likely draw a swarm of institutional investors, increasing liquidity and possibly raising the asset’s market value. The SEC’s decision is especially significant, and approval could be seen as a positive regulatory signal given the ongoing legal debate over XRP’s classification.
This is a significant change in the regulatory mindset after former SEC Chairman Gary Gensler left the agency.
Gensler had been skeptical of cryptocurrencies and frequently classified them as securities.
The SEC is moving toward greater acceptance of financial products related to cryptocurrencies with its recent decisions to approve spot Bitcoin and Ethereum ETFs in 2024
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.