XRP ETF gains traction as SEC acknowledges Grayscale filing for Solana and Litecoin funds #NewsETFs

• Cboe Exchange filed 19b-4s to list and trade XRP ETFs submitted by issuers to the SEC.
• The SEC acknowledged Grayscale’s filing for a Solana ETF, which was rejected under the previous administration.
• The regulator also acknowledged NYSE’s 19b-4 to list and trade Grayscale’s Litecoin ETF.

Ripple’s XRP was in the limelight on Thursday following the Chicago Board Options Exchange (Cboe) 19b-4 filing to the Securities and Exchange Commission (SEC) to list and begin trading XRP exchange-traded funds (ETFs) for asset managers Canary Capital, WisdomTree, 21Shares and Bitwise.

Likewise, the SEC acknowledged the New York Stock Exchange’s (NYSE) 19b-4 filings for Grayscale’s Solana and Litecoin ETFs.

Crypto ETFs gain ground as XRP, Solana and Litecoin ETFs see progress

Cboe has filed a 19b-4 with the SEC to list and trade XRP ETFs from asset managers Canary Capital, Bitwise, 21Shares and WisdomTree. This marks a step of progress in the spot XRP ETFs race.

The asset managers filed S-1s for the products between November and December 2024.

The race for XRP ETF began following the court’s ruling on the case between Ripple and the former SEC administration.

The court ruled a $125 million civil penalty against Ripple for the improper sale of its XRP token to investors. The amount fined was much lower than the $2 billion penalty that the SEC had demanded. The court also stated that it did not view the sales of XRP to retail investors as securities.

Cboe’s filing comes after the NYSE applied last week to convert Grayscale’s XRP Trust to an ETF.

Similarly, the SEC acknowledged the NYSE’s 19b-4 filings for Litecoin and Solana ETFs on Thursday.

The Gensler administration, which alleged that Solana was potentially a security, requested that the Cboe withdraw issuers’ filings a few weeks before President Trump assumed office, per a Thursday X post by Eleanor Terret.

The acknowledgment also follows confirmation of receipt for Grayscale and Canary Capital’s Litecoin ETFs application.

While the submission of 19b-4s does not guarantee approval from the SEC, the current administration provides a more suitable environment for approving the applications.

19b-4 forms are considered the second phase in the approval process for ETFs after the submission of S-1 filings by issuers.

These forms request that the SEC permit an exchange to list and trade the ETFs mentioned. When the SEC confirms receipt of the 19b-4, a 240-day waiting period begins for the regulator to either approve or deny the products.