SEC Acknowledges Bitwise XRP ETF Application

The SEC just acknowledged another XRP ETF filing, this time from Bitwise. Last week, Cboe BZX Exchange filed applications to list several XRP ETFs, including the one from Bitwise.

This isn’t the first XRP filing to get recognition from the SEC, and the underlying asset’s price has barely budged. Still, it’s a positive sign for approval, especially because it was so speedy.

More Positive Developments for XRP ETFs

The last few weeks have been an especially bullish period for XRP ETF enthusiasts. Since the SEC has become much friendlier to crypto, it has made a few specific outreaches to Ripple. It’s apparently planning to drop its long-running lawsuit, although this has not been finalized, and it began acknowledging the relevant filings.

Today, the Commission acknowledged another one:

“Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, and Rule 19b-4 thereunder, notice is hereby given that on February 6, 2025, Cboe… filed with the Securities and Exchange Commission a proposed rule change to list and trade shares of the 21Shares Core XRP Trust,” the filing read.

An XRP ETF has been a coveted regulatory goal in the crypto community. Under Gary Gensler’s SEC, it was considered nigh-impossible, and it is still considered less likely than other altcoin ETFs in 2025.

However, Polymarket odds show overwhelming community faith that approval will come this year, and today’s acknowledgment is a real milestone.

Still, this isn’t the SEC’s first time acknowledging an XRP ETF filling. The first one happened earlier this week, prompting a corresponding XRP price surge. Today, however, the asset’s price has remained limp, with ETF hype unable to overcome external bearish pressures.

Overall, this latest acknowledgment reveals a clear trend toward progress at the SEC. Grayscale filed its XRP ETF proposal in late January, and the SEC confirmed it earlier in the week. Today’s filing from CBOE and Bitwise, however, is barely over a week old in terms of business days.

In other words, the SEC seems to be speeding up a little. Granted, CBOE filed 19b-4 applications to list XRP ETFs on behalf of several potential issuers, not just Bitwise. As of yet, these haven’t been acknowledged.

Still, this is a significant turnaround time, especially considering the lawsuit between Ripple and the SEC. Hopefully, more good news will follow.