Right then, listen closely! Seems a whole gaggle of grown-up financial types – seven of them, no less – are practically *begging* the American Securities and Exchange Commission (SEC) to let them mess about with a special sort of fund called an XRP ETF. Grayscale, Bitwise, and a bunch of other posh-sounding names have been sending in paperwork like frantic squirrels hiding nuts. It’s a bit desperate, really.
They reckon lots of people are suddenly terribly keen on XRP, whatever that is. A bit like everyone suddenly wanting pickled onions for breakfast, wouldn’t you say? 🤔
October Doom or Bloom?
Now, a clever lady called Eleanor Terrett from Fox News (yes, *that* Fox News!) pointed out that the SEC has been having a bit of a grumble about the proposals, and these new filings are basically the financial types trying to appease the grumpy regulators. And with October looming like a particularly unpleasant dentist appointment, the timing is, shall we say, rather crucial.
Apparently, they’ve made the funds a bit more flexible. You can pay for them with XRP, money, or both! How terribly accommodating. They’re trying to jump through all the hoops, aren’t they? The SEC does love its hoops.
A Gang Up on the SEC?!
One chap, Nate Geraci, who knows a thing or two about these fund thingamajigs, says it’s brilliant that they’re all doing it together. A sort of financial flash mob! He thinks it might make the SEC a bit wobbly and actually give in. Though, let’s be honest, regulators aren’t known for giving in easily. They’re a stubborn bunch. 🙄
BlackRock is Missing In Action!
But hold on! The biggest, most enormous financial beast in the world, BlackRock, is sitting this one out. They’re too busy fiddling with Bitcoin and Ethereum, apparently. Too posh for XRP, perhaps? It leaves the door open for the others, though. If the SEC finally says ‘yes’, those chaps could be rolling in dough.💰
XRP Jumps for Joy!
And guess what? The price of XRP went zoom! Up 7% it shot, landing at $3.08. People got rather excited, believing these filings mean it’s now one step closer to becoming a properly respectable thing. Hooray!
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Frequently Asked Questions (Because Everyone Asks)
When will the SEC make up its mind?
They’re supposed to decide sometime in October. Don’t hold your breath, though.
What are the chances of this actually happening?
The filing frenzy does help, but the SEC is still a big question mark.
What’s in it for us regular folk?
Easier ways to get involved with XRP, more organized trading, and potentially a bit more money for everyone! Maybe.
Why is October so important?
Because that’s when the SEC is due to make a decision. It’s like waiting for a school report, but for grown-ups who play with money.
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2025-08-23 08:39