Shocking News: CBOE’s Bold Move for XRP ETFs Leaves SEC Scratching Their Heads! 😲

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In a delightful twist of fate, the CBOE BZX Exchange has gallantly filed 19b-4 applications, a veritable bouquet of bureaucratic bouquets, for the crème de la crème of asset managers clamoring for an XRP ETF with the illustrious US Securities and Exchange Commission (SEC). Among the illustrious contenders are the likes of Bitwise, Canary Capital, 21Shares, and WisdomTree—each one a titan in the financial arena, or at least they like to think so. 🏦

XRP ETF One Step Closer to US SEC Approval

According to the sacred scrolls of the 19b-4, the XRP ETF products from these noble firms will dutifully conform to the BZX Rule 14.11(e)(4). Ah, the 19b-4s, those charming little documents, are generally regarded as the next step in the grand ballet of regulatory approval, a pirouette toward the proposed rule change from the issuers. 💃

As the ever-astute Fox Business Journalist Eleanor Terrett quipped on X, this 19b-4 is nothing less than an official notification for the SEC to permit the listing of the XRP ETFs on Cboe. Should the markets regulator deign to acknowledge this filing, the 240-day countdown to approval will commence, like a ticking time bomb of anticipation. Market analysts, those modern-day oracles, suggest that the chances of acknowledgment are as high as a kite, especially since the commission recently gave a nod to the 19b-4 from Grayscale Investments. 🎈

Meanwhile, the US SEC is now seeking public comment on the Litecoin ETF proposal, signaling the official start of the approval process. Because who doesn’t love a good public comment session? It’s like a town hall meeting, but with more spreadsheets and fewer cookies. 🍪

This is a developing story, please check back for updates!!!

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2025-02-07 01:18