What is the latest situation on XRP, Dogecoin, Litecoin, and Cardano ETFs? Have the chances of approval strengthened?

Crypto journalist Eleanor Terrett recently shared her views on the ongoing debates about the XRP exchange-traded fund (ETF) and its impact on the coin's regulatory classification.

In his statement, Terrett addressed speculations on whether the U.S. Securities and Exchange Commission (SEC) is evaluating (SEC) ETF applications to classify XRP as a commodity. The SEC announced that it recognizes issuers applying for XRP-based ETF products that classify the asset as a commodity within a securities package. This structure is similar to how Bitcoin (BTC) and Ethereum (ETH) ETFs are treated.

Terrett, 'You have seen the SEC recently evaluating some of these products, including Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), along with other underlying assets that the previous SEC considered as securities'.

However, the SEC also highlighted that it has halted lawsuits related to cryptocurrency classifications while evaluating these applications. The SEC's Crypto Asset and Cyber Unit is currently assessing the regulatory framework for digital assets, which may explain the delay in decisive action.

Terrett predicted that the SEC's broader evaluation of various crypto ETF applications could be an attempt to avoid favoritism allegations. "The SEC may be evaluating everything because the commission does not want to appear to be choosing winners and losers," he said.

Despite this development, Terrett noted that the regulator maintained its uncertainty about these applications until they took further action. 'While it is certainly noteworthy that they are not outright rejecting these products, I doubt we will know what they think until the SEC starts paying more attention to these practices,' he said.

He also commented on the status of ETF applications, stating that Grayscale has applied for a Cardano ETF, but the SEC has not yet evaluated it. However, the commission has officially taken applications related to XRP, Solana, Dogecoin, and Litecoin (LTC) under consideration.