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On Thursday, February 13th, 2025 the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s application for XRP and DOGE spot ETFs. These filings are expected to be entered into the SEC’s Federal Register, initiating a 240-day review period before a final decision is made.
The possible approval of these spot ETFs could foster greater institutional exposure to XRP and DOGE, enhancing market liquidity and driving increased demand.
Following this news, both assets saw a positive market reaction. XRP surged by 10% within 24 hours, trading around $2.73, making it one of the top-performing crypto assets by market value. DOGE also experienced a 4% increase compared to its previous price trend.
This ETF application recognition by the SEC could significantly boost the case for altcoin ETFs and potentially increase investors interest in memecoins like DOGE, paving the way for more memecoins to be considered for spot ETFs.
