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The Cboe BZX Exchange just made a power move, filing form 19b-4 with the SEC to list spot XRP ETFs. Yep, the race is on for those juicy XRP exchange-traded funds, and players like Bitwise, 21Shares, Canary Funds, and WisdomTree are all at the starting line. Will the SEC finally hit the green light? Let’s break it down.
📝 What’s a 19b-4? (Not a Star Wars Droid)
Form 19b-4 is stock exchange slang for “Hey SEC, can we launch this ETF, pretty please?” Basically, it’s the paperwork needed for exchanges to propose new products like ETFs.
Fox Business reporter Eleanor Terrett dropped a quick PSA on X (formerly Twitter):
“The filing of the 19b-4’s does not guarantee acknowledgment or approval by the SEC.”
Translation: Filing is just step one. No champagne-popping just yet.
Once the SEC stamps a receipt on the form, they have 240 days to give a thumbs up or down. And if the SEC does say “yes,” the XRP price could see a whole lot more action on the trading floor.
📊 The Big Players Betting on XRP ETFs
It’s not just Cboe in the ring. Grayscale is also eyeing an XRP ETF, joining four other heavy-hitters. Even JPMorgan threw some numbers into the mix, estimating that an XRP ETF could rake in $6 to $8 billion in revenue within a year. 😳
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Oh, and prediction market Polymarket says there’s an 80% chance an XRP ETF could be approved in 2025. High stakes, people!
XRP ETF Fever Spreading Like Memes on Reddit
This isn’t just an XRP thing. The SEC recently nodded at Grayscale’s filings for Litecoin (LTC) and Solana (SOL) ETFs. Interestingly, Solana’s approval journey is murkier because of the whole “security” label. 😅
Meanwhile, Cboe’s Solana ETF filings are still in the SEC’s purgatory with zero acknowledgment. Hang in there, Solana fans.
🚨 XRP Price Action: Down Bad Lately
While the ETF buzz is heating up, XRP’s price is chilling in the dumps. Since mid-January, the XRP price has been sliding like your uncle on the office dance floor. Over the past week, it’s shed 25% of its value. At the time of writing, XRP is trading around $2.30, down 6.2% in the last 24 hours.
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🚀 What’s Next?
If the SEC gives the green light, expect XRP price to get some serious rocket fuel. But for now, it’s all about the waiting game, and maybe snagging XRP at these lower prices before the ETF hype kicks in. Stay tuned, fam. This ETF saga is only getting started.
XRP price enthusiasts, let us know what you think. Are ETFs gonna be a game-changer, or will the SEC keep raining on crypto’s parade?
