The United States Securities and Exchange Commission (SEC) has formally acknowledged three applications for XRP exchange-traded funds (ETFs) within a five-day span. This development has fuelled speculation about the regulator’s stance on XRP and its potential classification as a commodity.

Analyst Armando Pantoja predicts an 81% chance of XRP ETF approval within the next year, arguing that it would not only drive institutional demand but also validate that XRP is not an illegal security.

SEC's approval of Bitwise XRP ETF will depend on public feedback and the filing’s compliance with its investor protection standards.

In a recent update CNF covered, the Cboe BZX Exchange submitted 19b-4 filings to the SEC to list Bitwise’s proposed XRP ETF. As James pointed out, the SEC has acknowledged Cboe’s filing and kicked off the Bitwise ETF decision process.

The SEC is reviewing multiple XRP ETF proposals from major asset managers, including Bitwise, Grayscale, and 21Shares, as part of a broader expansion of crypto investment products following the successful launch of Bitcoin and Ethereum ETFs.

XRP was giving up some of its recent gains on Monday, but the cryptocurrency has still gotten a sizable boost from speculation that the Securities and Exchange Commission could approve an exchange-traded fund tracking its price.

According to new reports, the U.S. Securities and Exchange Commission (SEC) has confirmed the receipt of an application for a Bitwise spot XRP Exchange-Traded Fund (ETF). According to earlier reports,