SEC Approves Initial Acceptance of Grayscale’s Ripple and Dogecoin ETFs

The U.S. Securities and Exchange Commission (SEC) has initiated a review process for GrayScale's proposals to create exchange-traded funds (ETFs) focused on Ripple (XRP) and Dogecoin (DOGE). This step represents a significant move in the cryptocurrency investment landscape, as ETFs offer a regulated way for investors to access these digital currencies.

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On February 13, the SEC provided details about the review timeline. Once GrayScale submits its applications to the federal office, a review and final decision window of 240 days will commence. This duration allows the SEC to properly evaluate the proposals and consider various factors before reaching a conclusion.

Market analysts from Bloomberg have weighed in on the likelihood of approval for these ETFs. They estimate a 65 percent chance for Ripple’s ETF and a slightly higher 70 percent chance for Dogecoin’s ETF. These figures reflect the analysts' views based on the current regulatory environment and previous ETF approvals.

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The SEC's decision on these ETFs will have implications not only for GrayScale but also for the broader cryptocurrency market. Approval may encourage more institutional investment and provide a boost in credibility to Ripple and Dogecoin as investment vehicles.