A new wave of attention has swept across the XRP community following a revelation from crypto commentator JackTheRippler (@RippleXrpie), who highlighted a key regulatory deadline that could shape the future of a potential XRP exchange-traded fund (ETF). According to JackTheRippler, the 240-day window for the U.S. Securities and Exchange Commission (SEC) to respond to Grayscale’s ETF application will end on July 2.
At the forefront of this anticipation is the Grayscale Digital Large Cap Fund (GDLC), which currently holds XRP alongside Bitcoin, Ethereum, Solana, and Avalanche. The fund is set to provide investors with a diversified choice of leading digital assets while deliberately excluding stablecoins and meme tokens.
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Grayscale has filed for GDLC to be converted into an ETF, which may mark the country’s first diversified crypto ETF. The imminent SEC ruling has created increased guessing, as those holding XRP are focused on the matter in view of the fact that XRP is a part of the fund’s assets.
Grayscale has been discussing this product with the SEC since 2021 or 2022. The process ensures that the SEC has about 240 days between the submission date and the time a final decision is made. In the weeks leading up to July 2, industry participants expect upcoming regulatory action.
XRP’s Involvement in GDLC Draws Investor Attention
XRP’s inclusion has taken on added importance due to its complex history with the SEC. The ongoing legal proceedings between Ripple and the SEC have recently entered a more conciliatory phase, with settlement discussions signaling improved regulatory clarity for the token.
This development supports the case for including XRP in a U.S.-regulated exchange-traded fund (ETF) in the future. Adding XRP to an accepted GDLC ETF may significantly change the limitations of crypto assets and how they are accepted by the financial system.
The crypto sector is optimistic that approving any ETF will trigger the accelerated consideration of the other pending submissions. The GDLC outcome can potentially have a larger impact on the path of all products linked with contradictory assets, such as XRP, than the token itself.
As the SEC’s 240-day review deadline nears July 2, investors and analysts hope to find out whether a spot XRP ETF from Grayscale’s diversified fund will get approved. The result is getting much attention from investors and analysts who view it as changing the scene for XRP and currency exchange-traded funds (ETFs) in the U.S.
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