The SEC has accepted applications for Grayscale Grayscale's (DOGE), XRP Spot ETF, with Bloomberg analysts giving a high approval probability of 75%.

The SEC officially accepted the Grayscale DOGE and XRP ETF applications today, indicating a more open attitude towards AltCoin ETFs and increasing the possibility of future approval. Fox Business reporter Eleanor Terrett stated that the 240-day review period for Grayscale's application is expected to take effect in a few days. With President Trump showing a friendly attitude towards cryptocurrency, major asset management companies have been submitting ETF applications for various cryptocurrencies, including SOL, DOGE, XRP, and LTC, following the approval of Bitcoin and Ether spot ETFs. However, not all of these applications will enter the formal review process with the SEC, and some may even be directly rejected. Therefore, the acceptance of the application by the SEC itself is significant news. SEC's acknowledgement of the DOGE and XRP ETF applications today is a positive signal, indicating an increasing possibility of future approval. However, this does not guarantee automatic approval, nor does it guarantee that the SEC will ultimately approve the application. Nevertheless, it signifies a more open attitude from the SEC, and does not directly reject the consideration of such products. This is a good start and at least indicates that these products have a chance of being approved for listing in the future. Eleanor Terrett added that the SEC is likely to accept applications for XRP ETFs from issuers who submitted their applications after Grayscale, including Bitwise, 21Shares, Canary Capital, and WisdomTree. In addition, the 240-day review period for Grayscale's application will start counting from the official publication of their document in the Federal Register, and is expected to take effect in a few days. The SEC's review process usually involves a 240-day maximum review period, with an initial 45-day review period that can be extended to 90 days, and further extension increments of 90, 60, and 30 days if necessary. The final decision must be made within the 240-day statutory period, either approving the proposal, rejecting it, or allowing the exchange to voluntarily withdraw the application before a formal rejection. Analysts James Seyffart and Eric Balchunas have recently predicted the approval probabilities for the four major cryptocurrency ETFs - Litecoin (90%), DOGE (75%), Solana (70%), and XRP (65%).