Wow! US SEC Accepts Dogecoin ETF Application!

The American securities regulatory body SEC formally accepted Grayscale’s Dogecoin & XRP spot ETF applications.

Summary

• The US SEC formally accepted the XRP & DOGE ETF application
• In the Next 240 days, the SEC will give its final verdict
• The regulatory body may accept more new similar applications

On 14 Feb 2025, The United States Securities and Exchange Commission (SEC) officially accepted the 19b-4 application submitted by Grayscale and the New York Stock Exchange to establish a DOGE ETF.

Also, here, people need to know that the SEC body also acknowledged Grayscale’s 19b-4 application to convert its $XRP Trust into an ETF.

This latest development around Crypto spot ETF products by the American securities regulatory body SEC is very big news for this innovative space because at least the SEC body formally accepted these applications, which hints that there are at least some chances for such applications to get approval.

A Fox Business news reporter, Eleanor Terrett, also shared her opinion on this latest development and said that here we can expect that the SEC body may consider a similar approach for the other Crypto spot ETF applications filed after Grayscale.

Eleanor clarified that the latest development around XRP & Dogecoin spot ETF applications is not a guarantee that the SEC body will provide regulatory approval for sure. The next 240 days will be very important because it is the time frame in which the regulatory body will try to make a final decision on whether to reject or approve some new changes.

The Bitcoinik.com team believes that here the SEC body will not respond to these applications, at least in the upcoming few months, because the SEC body is currently engaged in the development of a new set of rules to impose on the cryptocurrencies & businesses dealing with cryptocurrencies, to provide a crystal clear framework for this whole digital assets space.

$Dogecoin & $XRP Coins Price Action

Following this news, the trade price of Dogecoin ($DOGE), a top meme Cryptocurrency, surged from $0.25 to $0.26. The current price level is still 1% down over the last 24-hour trading period.

The current trade price of $XRP coin is $2.53 & this price level is 3% higher over the last 24 hours of trading. So here we can say that the XRP community is more optimistic about this development.

$XRP Coin Price Pump & Optimism Among Investors

The sudden pump in the trade price of $XRP coin is giving a type of hint that the $XRP enthusiasts are optimistic to see more positive developments from the Ripple vs SEC legal battle, as not only the SEC leadership is under ProCrypto chairman but also they accepted $XRP linked ETF application.

Initially, the Ripple vs SEC fight was officially started in Dec 2020, and following multiple turns & twists, the court judge’s final verdict was partially in favour of both parties. In late 2024, the former SEC chairman Gary Gensler repealed this case to impose all the charges against Ripple firm and Ripple executives, & also prove $XRP as a type of security token.

Read also: OKX & Bitget to Launch Highly Controversial Crypto Token $PI