RIPPLE XRP (XRP) Reality (XRP) ETF is one step closer to the sector confirms the submission of the application

The Securities and Exchange Commission (SEC) set the deadline for decision on whether it will allow the stock market fund (ETF) to be accompanied by the price of XRP (CSRP).

SEC has recognized the 19b-4 Brief by the New York Stock Exchange (NISE) and the Greiscale property manager, which was the first time to respond to the application regarding the crypt. This means that the Commission now has up to 240 days to make a decision on the submission.

While the regulator previously recognized several CRIPTO focused ETFS applications, including Solan (SOL), Litecoin (LTC) and Dogecoin (Doge), this is the latest recognition considering that SEC is a permanent lawsuit against Ripple XRP.

SEC sued Ripple in December 2020. year, as he allegedly violates American laws from selling KSRP as unregistered safety for fundraising. Ripple won the court partially in August 2023. years, and the CSRP considered an uncertainty when the federal judge was sold in middle markets.

SEC in case filed the appeal in the case of 15. January – five days before Donald Trump took office as US President – quarrel This Ripple approach to the sale of KSRP met on the principles of the Hea Heist Test, a precedent of the Supreme Court who used as a common standard for securities identification.

“They could easily refuse this submission,” Nate Geraci said, President of the ETF store in a mail on X. “A huge message (in my opinion).

Last week, Bloomberg ETF Analysts James Seiffart and Eric Balchunas predicted a 65% chance that the KSRP ETF was approved by the end of 2025. Two analysts gave the most chances of LTC ETF (90%), and then dogs (75)%) and salt ( 65%).

All current outstanding ETF applications for these funds will receive a decision in October.