Does This SEC Decision Mean Dogecoin, XRP ETFs Are On Their Way?

The Securities and Exchange Commission has acknowledged Grayscale's applications for spot Dogecoin (CRYPTO: DOGE) and XRP (CRYPTO: XRP) ETFs.

This step signals that the agency is willing to consider the proposals, a shift from its previous tendency to dismiss similar applications for alternative cryptocurrencies.

If approved, the ETFs would allow investors to gain exposure to Dogecoin and XRP through traditional financial markets without directly holding the assets.

What Happened: Historically, the SEC has been hesitant to approve ETFs tied to cryptocurrencies beyond Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bloomberg ETF analyst Eric Balchunas noted that the regulator's decision to engage with the filings is a positive indication that its stance may be evolving.

Fox Business journalist Eleanor Terrett highlighted that the ...

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