Avalanche

The SEC acknowledges a new EFT filing containing XRP, amongst other crypto assets such as Ethereum, Avalanche (AVAX), and Solana (SOL). 
Nate Geraci, co-founder of The ETF Institute, has <a href="https://x.com/NateGeraci/status/1851703296815198326" target="_blank" rel="noreferrer noopener">stated</a> that the U.S. Securities and Exchange Commission (SEC) has “formally acknowledged” Grayscale’s request to convert the Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). 
This multi-asset fund includes cryptocurrencies such as XRP, Ethereum (ETH), Avalanche (AVAX), and Solana (SOL), with Bitcoin (BTC) making up a significant 77% of the fund’s assets under management. 
The SEC has issued a notice to invite public comments from potential investors regarding this filing. 
Earlier this month, both Bitwise and Canary Capital <a href="https://u.today/xrp-etf-race-picks-up-steam-up-with-yet-another-filing" target="_blank" rel="noreferrer noopener">submitted</a> their own applications for XRP ETFs. 
Although the SEC has acknowledged a new ETF filing containing XRP, experts believe that approval for these products is unlikely in the near future. 
Leading ETF analyst Eric Balchunas suggested that a combined crypto ETF featuring some illiquid assets might stand a better chance of receiving SEC approval. 
While Bitcoin ETFs have seen tremendous success, attracting tens of billions in inflows, it took about a decade for them to be approved. 
Meanwhile, Ripple CEO Brad Garlinghouse has consistently expressed confidence that an XRP ETF is “inevitable.” 
But I’m curious to know what you think — leave your thoughts below. 
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Also Read:&nbsp;<a href="https://franknez.com/japans-banking-system-is-now-preparing-to-adopt-xrp/">Japan’s Banking System Is Now Preparing To Adopt XRP</a> 
The post <a href="https://franknez.com/the-sec-acknowledges-a-new-etf-filing-containing-xrp/">The SEC Acknowledges A New ETF Filing Containing XRP</a> appeared first on <a href="https://franknez.com">Daily Market News 🗞️</a>.

The SEC Acknowledges A New ETF Filing Containing XRP

FrankNez

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