SEC Acknowledges Bitwise’s XRP ETF Filing - What’s Next?

The SEC (Securities and Exchange Commission) of the United States on February 18 finally recognized Cboe BZX Exchange's proposal to list and trade shares of the Bitwise XRP ETF (Exchange-Traded Fund). This is an important step in combining traditional finance with the cryptocurrency market. 

The common public is invited by the SEC to participate by sharing their thoughts on whether this proposed rule change meets current laws and regulations. People can submit their comments for the next 21 days after the notice is published, giving them a chance to participate in this important proposal.

The current scenario of Bitwise XRP ETF filing is crucial since it can decide the fate of the proposal. The SEC is all set to critically review the proposal ensuring that the investors are safe from all sorts of frauds and market manipulations. 

This review is crucial to confirm that the XRP product follows regulations and helps prevent fraud and market manipulation. This process will build trust among investors in the changing cryptocurrency market.

The US Securities and Exchange Commission (SEC) believes that XRP should be treated as a commodity, similar to well-known cryptocurrencies like Bitcoin and Ethereum. This thing matters for the rules and regulations about digital assets. 

The SEC also mentioned that the company applying for the Bitwise XTR ETF works on its own and has no ties to Ripple Labs. This clarifies the connections between different players in the cryptocurrency market.

Bloomberg ETF analysts James Seyffart and Eric Balchunas report that there is a strong 65 percent chance the U.S. Securities and Exchange Commission (SEC) will soon approve a spot XRP ETF. If approved, this change could significantly impact how investors interact with XRP.

One of the prediction market platforms, the outlook looks even more positive. Participants see a 78 percent probability that the SEC will approve a spot XRP ETF by December 31, 2025. This higher expectation shows growing optimism among investors about XRP's future in the regulated financial market.

The U.S. Securities and Exchange Commission (SEC) has recently acknowledged filings for spot XRP Exchange-Traded Funds (ETFs) made by well-known companies like 21Shares and Grayscale Investment. However, it has not yet been decided, leaving their approval status unclear.

In response to these updates, Brad Garlinghouse, the CEO of Ripple Labs, has shared his thoughts that a spot XRP ETF will soon be approved. He suggests that a decision may be coming soon. His comments show a growing excitement in the cryptocurrency community about the possibility of more institutional investment in XRP as clearer regulations approach.

Impact of the Market 

Interest in Ripple's products has grown among big investors, driving up XRP price over the past six months. After a long period of price stability in a pattern that started in 2018, XRP's price jumped sharply after a breakout late last year. 

This rise was mainly due to new regulations in the United States that encouraged growth in cryptocurrency, combined with increasing interest in Ripple's innovative products from institutional investors worldwide. These factors have improved the market for more trading activity with XRP. This has attracted both experienced and new traders.

Ripple Lab is working to improve the XRP Ledger network for significant support for their DeFi protocols. These upgrades can help XRP to work on a strategy for future gains, such as it can be used in more financial applications if the XRP Ledger manages to support multi-chain DeFi protocols. 

Furthermore, Donald Trump and its administration are already looking forward to boosting the US economy through crypto advancements. This can be a golden chance for XRP to make advancements in the network and to grow within a crypto-friendly political environment. 

The possible approval of a spot XRP ETF has created a lot of interest in the cryptocurrency market. However, some people believe that there are also chances of creating hype around the corner. This usually happens when investors start to buy the product ahead of news believing that the price would skyrocket.

Similar situations have been observed in the past, such as with Ethereum and Grayscale’s ETHE ETF, where initial hype led to significant price fluctuations before approval. This situation raises questions about whether the approval of the XRP ETF will trigger a reaction among the holders.

The U.S. Securities and Exchange Commission (SEC) is close to approving a spot XRP Exchange-Traded Fund (ETF). This is changing the cryptocurrency market as more institutional investors are showing interest in regulated crypto products. 

This shift indicates that digital assets are becoming more widely accepted. While XRP gains popularity, another innovative technology is getting attention—BlockDAG (BDAG). This framework uses a Directed Acyclic Graph (DAG) structure, making it a scalable and efficient alternative to traditional blockchains.

Bitcoin mining rig uses a method called Proof-of-Work (PoW), however, BDAG is made to be more efficient for mining. It can process transactions more quickly and at lower costs, which makes it a good choice for miners and investors who want sustainable blockchain solutions. The BDAG network can also manage a high number of transactions at once, which further boosts mining efficiency and cuts costs.

If you want to find out how profitable BDAG mining can be, many crypto coin calculators can help you estimate your earnings. These calculators look at important factors like network difficulty, electricity costs, and block rewards. This information is useful for both new and experienced miners. 

BDAG Mining Evolution

Additionally, BDAG offers easy-to-use crypto mining app that let you mine directly from your smartphone. This makes it simpler for more people to get involved in mining without needing to invest in expensive hardware.

More institutional investors are paying attention to XRP, which is increasing the demand for effective blockchain solutions. BDAG's presale is a chance for early investors to get involved before it becomes popular. 

With its innovative mining technology and user-friendly apps, BDAG aims to be a strong player in the cryptocurrency market, offering a sustainable and profitable alternative to traditional mining methods.