PANews reported on February 14 that according to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has officially accepted the 19b-4 application submitted by Grayscale and NYSE, intending to convert the Grayscale XRP Trust ($XRP Trust) into an exchange-traded fund (ETF). Although this does not mean automatic approval, and there is no guarantee that the SEC will eventually agree to the application, this progress shows that the SEC is more open to crypto ETFs, rather than directly refusing to consider such products.

Previously, due to the SEC's tough stance, the exchange withdrew the Solana ($SOL) ETF application. However, the SEC's acceptance of the XRP ETF application indicates that crypto ETFs such as LTC, DOGE, SOL, and XRP are still likely to be approved. The SEC is expected to publish the application to the Federal Register within a few days, when the 240-day approval window will officially open. In addition, XRP ETF applications from institutions such as Bitwise, 21Shares, Canary Funds, and WisdomTree are still awaiting processing by the SEC.