The Race for a Spot-Based XRP ETF

The race to launch a spot-based XRP exchange-traded fund (ETF) in the U.S. is gaining momentum, with the U.S. Securities and Exchange Commission (SEC) acknowledging a filing from the crypto-focused investment company CoinShares.

This marks the fourth XRP ETF filing acknowledged by the SEC. Previously, the agency sought comments on competing proposals from Grayscale, 21Shares, and Bitwise.

However, the SEC has yet to acknowledge filings submitted by Canary Capital and WisdomTree.

Importantly, the probability of the SEC approving an XRP ETF this year currently stands at 78% on Polymarket, with the odds remaining fairly stable over the past month.

In related news, former SEC official John Reed Stark has predicted that the SEC may not pursue its appeal against Ripple.