XRP ETF Approval Moves Forward with CBOE Filing for Leading Asset Managers

The CBOE BZX Exchange has taken a significant step forward in the process of getting an XRP ETF approved by the US Securities and Exchange Commission (SEC).

The exchange has submitted 19b-4 filings for leading asset management firms, including Bitwise, Canary Capital, 21Shares, and WisdomTree, signaling progress toward launching these products.

This move , part of the regulatory procedure, follows the BZX Rule 14.11(e)(4), which outlines the requirements for listing such products on the exchange. With this filing, the SEC now has the opportunity to review and approve these proposed XRP ETFs. If the SEC acknowledges the filing, a 240-day approval countdown will commence, with market analysts expressing optimism about the outcome based on recent approvals, such as that of Grayscale’s related application.

In addition to XRP , other cryptocurrency ETFs are also gaining attention. The SEC has recently started reviewing a spot Litecoin ETF proposal from Canary Capital and is soliciting public feedback on Grayscale’s own Litecoin ETF application. Analysts anticipate that such approval could drive the price of Litecoin toward $50.

The SEC’s focus isn’t limited to just XRP and Litecoin; asset managers are also eyeing approval for ETFs tied to various altcoins, including Solana , Dogecoin , and even memecoins like TRUMP . However, analysts suggest that these proposals are testing the limits of what the SEC is willing to approve, especially in the face of ongoing regulatory scrutiny.

The momentum for crypto ETFs is fueled by the favorable climate under the current US administration, which has been more open to digital asset innovation. The recent appointment of Mark Uyeda, a crypto-friendly Republican, as SEC Chair has led to the establishment of a dedicated crypto task force aimed at shaping the sector’s future. Despite this, the approval of crypto ETFs remains uncertain, with the SEC still weighing the implications of these offerings.