XRP ETF Filings Gain Attention: Will The SEC Confirm Its Status? – BitRss

Recent speculations suggest that the U.S. SEC now views XRP ($2.66) as a commodity after acknowledging multiple XRP ETF filings. Over the weekend, excitement grew within the XRP community when the SEC recognized another ETF application. The securities regulator acknowledged Cboe BZX Exchange’s filing to list and trade shares of 21Shares XRP ETF, just a day after doing the same for Grayscale’s XRP ETF.

21Shares referenced the SEC v. Ripple lawsuit, arguing that XRP is not a security under federal law. It insisted that XRP should be treated as a commodity under the Commodity Exchange Act (CEA). The SEC’s recognition of multiple XRP ETF filings fueled speculation that the agency now classifies XRP as a commodity.

FOX ($0.04) Journalist Clarifies Misconception

However, FOX Business journalist Eleanor Terrett disagreed with this speculation. She clarified that the SEC’s acknowledgment does not mean the regulator considers XRP a commodity. Instead, it only recognizes that issuers seek to offer an ETF that treats XRP as a commodity within a securities framework.

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Terrett also noted that the SEC has acknowledged ETF filings for other cryptocurrencies, including Solana (SOL ($183.05)), even though it previously classified SOL as a security in separate enforcement cases. She emphasized that this trend likely aims to prevent the SEC from appearing biased in its treatment of crypto assets.

Uncertainty Around XRP’s Regulatory Status

Additionally, Terrett highlighted that the SEC recently paused its lawsuit against Binance regarding whether certain crypto assets qualify as securities. Meanwhile, the agency’s Crypto Task Force continues working toward regulatory clarity. She suggested that the SEC’s broader recognition of ETF filings does not necessarily indicate a clear stance on XRP’s classification.

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The regulatory status of XRP remains uncertain, despite a prior court ruling stating that XRP is not a security. Judge Analisa Torres’ ruling provided some legal clarity, and the SEC did not challenge it in its appeal. However, experts believe that the unresolved lawsuit could delay the approval of an XRP ETF.

The SEC is now focused on resolving the securities classification issue through its Crypto Task Force. The agency has outlined priorities aimed at bringing clarity to the crypto industry, potentially resolving regulatory disputes, including those involving Ripple. Many hope these efforts will end the ongoing uncertainty surrounding XRP’s classification.

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