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After Bitcoin and Ethereum, spot ETF applications have been made for many altcoins, including altcoins such as $XRP, Litecoin (LTC) and Solana ($SOL).
According to Bloomberg analysts, the Litecoin ETF has a higher chance of approval than $SOL and $XRP ETFs, while it is stated that the SEC may announce on February 13 that it is evaluating Garyscale's spot $XRP ETF application.
Fox Business reporter Eleanor Terrett said in a post on her X account that based on data from Bloomberg analysts, the SEC could accept Grayscale’s spot $XRP ETF application for consideration as early as Thursday, February 13.
At this point, Terrett suggests that Grayscale’s 19b-4 application for the $XRP ETF could be accepted as early as February 13, as NYSE Arca filed a 19b-4 application to list shares of Grayscale’s $XRP Trust on January 30.
Noting that the SEC has a 15-day period to decide on such applications, Terrett added that the decision will provide an idea of how the current SEC administration views $XRP.
If the SEC approves the application, it could be a big step towards $XRP joining the ranks of Bitcoin and Ethereum, which already have spot ETFs.
“According to a chart presented by Bloomberg analysts James Seyffart and Eric Balchunas, we could see the SEC accept Grayscale’s spot $XRP ETF filing as early as Thursday (February 13, 2025) if the SEC chooses to accept the filing.
The SEC usually has around 15 days to accept a 19b-4 filing, and Grayscale filed its $XRP Trust conversion application on January 30.
Either way, it will give us a good idea of how the current SEC administration thinks about $XRP.”
What Are the Chances of $XRP ETF Getting Approval in 2025?
Bloomberg analysts James Seyffart and Eric Balchunas recently estimated that an $XRP ETF has only a 65% chance of gaining approval this year, which is significantly lower than Litecoin (90%), Dogecoin (75%), and Solana (70%).
Seyffart added that if the SEC accepts Grayscale’s application and resolves the ongoing Ripple lawsuit, the ETF’s chances of getting approval could increase significantly. Seyffart also noted that an $XRP ETF approval is unlikely until the lawsuit is resolved.
*This is not investment advice.