Oh, darling, it seems our dear XRP (XRP) has decided to don its finest attire, strutting about with a delightful 10% increase over the past two days! This little gem is positively glowing, thanks to some rather promising whispers about the initial approval of exchange-traded funds (ETFs) and the introduction of real-world assets (RWAs) on the XRP ledger. How positively thrilling! 💃

Our charming altcoin has gallantly leapt over its resistance at $2.50, sweeping up all that overhead liquidity like a well-trained butler, and has reached a dazzling high of $2.78 on the 14th of February. How romantic! 💘

Grayscale’s XRP and DOGE ETF Receive a Nod of Approval

According to a rather juicy filing released on the 13th of February, the US Securities and Exchange Commission (SEC) has graciously acknowledged Grayscale’s form 19b-4 application to list both XRP and Dogecoin ETFs. How generous of them! 🎩

Now, the final decisions regarding these delightful ETFs are expected to be made within a rather leisurely 240 days—just enough time for a good cup of tea and a biscuit, wouldn’t you say? This is, of course, the mandated time frame to accept or decline ETF applications under Section 19 (b) (2) of the Securities Exchange Act. Quite the mouthful! 🍵

With the SEC currently under a pro-crypto administration, we might just see an early approval, much like last month’s swift nod to Bitwise’s dual Bitcoin-Ethereum ETF. They submitted their application in November 2024 and received initial approval by January 30—less than 90 days! Talk about a speedy romance! 💌

However, our dear James Seyffart, a Bloomberg ETF analyst, has a rather sobering thought: he believes that an XRP ETF won’t be approved until the SEC’s little legal spat with Ripple Labs is entirely settled. How inconvenient! 😒

Related: Why is XRP price up today?

Polymarket Betters Feeling Quite Confident About XRP ETF Approval in 2025

After all this delightful news, the betting odds for an XRP ETF approval in 2025 have soared to a staggering 81% on Polymarket. Over the past month, the probability of approval has swung a fabulous 23% in favor of the optimistic masses, who were hovering around 70% in January 2025. Quite the rollercoaster! 🎢

The polls were nearly split when the approval time was limited to July 31, with 45% of the betters believing in a favorable outcome before Q3 2025. How democratic! 🗳️

However, our dear Jeremy Hogan, partner at Hogan and Hogan, believes that the XRP ETF might take its sweet time before it’s ready for the market. He’s been quite the vocal advocate for XRP on X (formerly Twitter) during the SEC-Ripple Labs saga, but when pressed for a timeline, he quipped,

“Yes, the approval can happen that fast, but then the S-1 has to be approved, etc. etc. So, think of it more like 8-12 months.”

Ah, the S-1 form—a key component for non-traditional ETFs like our beloved crypto-based ones. These filings require all sorts of clear disclosures regarding the ETF’s investment strategy, risks, fees, and operations. How dreadfully tedious! 🥱

2025-02-14 22:13