SEC intends to consider applications for XRP and Dogecoin ETF this week
Expert James Seyffart is confident that the probability of success exceeds 65%
11.02.2025 - 13:25
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What’s new? Bloomberg ETF Research analyst James Seyffart has reported that the SEC is set to formally recognize applications for the XRP and Dogecoin ETF this week. Companies such as Grayscale, Bitwise, Canary, 21Shares, and WisdomTree have filed applications for the XRP-ETF. Additionally, Grayscale and Bitwise have applied for the Dogecoin-ETF.
Seyffart estimates a 70% probability of approval for XRP and 65% for Dogecoin. Meanwhile, he predicts even higher odds of 90% for Litecoin ETF and 70% for Solana ETF.
What else is known? The SEC recently approved Grayscale’s Solana ETF application and encouraged public feedback. Notably, this is the first time the agency has recognized a Solana ETF application, suggesting a potential shift in its approach to cryptocurrency investment products. This recognition follows a change in leadership under President Donald Trump, who appointed Mark Uyeda as acting SEC chairman and Caroline Pham as acting CFTC chairman.
Grayscale has filed to launch a spot Cardano ETF
Once the SEC confirms, the filing will be published in the Federal Register, which will initiate the approval process
Both officials hold pro-cryptocurrency views and have pushed for clearer rules to regulate digital assets. In contrast, the previous SEC administration rejected Solana ETF applications and ordered Cboe to withdraw its 19b-4 filings.
What else did the analyst say? Seyffart also commented on the heated debate over the classification of digital assets as securities or commodities, a decision with serious regulatory and legal implications. He pointed out that numerous cryptocurrency lawsuits have exposed this ambiguity, impacting investor protections and compliance standards. In addition, Seyffart expects the SEC and Commissioner Hester Peirce, who chairs the agency’s cryptocurrency task force, to address some of these classification issues by the end of 2025.
The task force will help the SEC establish clear regulatory boundaries, develop practical registration pathways, develop effective disclosure structures, and strategically allocate enforcement resources.
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