Grayscale seeks to convert its XRP Trust into an ETF on NYSE Arca for more liquidity.
The filing enters a 21-day comment period before the SEC decides on approval, rejection, or extension.
The US Securities and Exchange Commission (SEC) has formally
acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund (ETF).
The agency's action indicates that it will consider the proposal but does not
guarantee approval.
Meanwhile, the XRPUSD H1 chart indicates a bullish trend
that began yesterday. The price reached approximately 2.78000 and may continue
its upward movement for the near term.
SEC Starts XRP ETF Review Process
Grayscale plans to convert its existing XRP Trust into a
fully tradable ETF on the New York Stock Exchange (NYSE) Arca. The company
launched its XRP Trust several years ago, similar to its Bitcoin and Ethereum
trusts. If approved, the conversion would increase liquidity and accessibility
for investors.
The SEC’s acknowledgment is only the first step in the
approval process. The filing will be published in the Federal Register,
allowing a 21-day public comment period. After that, the SEC can approve,
reject, or extend the review by initiating further proceedings.
The decision follows a history of the SEC refusing to engage
with altcoin ETF applications under former Chairman Gary Gensler. Solana ETF
applications were withdrawn in recent months after the SEC declined to discuss
them. The agency has also acknowledged filings for a Dogecoin ETF, a shift from
past policies where altcoin ETF applications were typically rejected or
withdrawn.
XRPUSD Shows Bullish Momentum After Support
The XRPUSD H1 chart shows that after finding support at
2.32750, the price made a bullish move. It faced rejection around 2.50000,
followed by a bearish correction. After consolidating for a while, the price
made a strong move upward. As of now, the price remains bullish and may
continue its upward movement.
The model assigns a 70% probability of a positive legal
outcome for Ripple, which could boost investor confidence and institutional
adoption. Increased use of Ripple's ODL platform may also raise demand for XRP.
Market sentiment, especially Bitcoin's performance and global economic
conditions, will influence XRP’s price movement.
More Firms Await SEC XRP ETF Acknowledgment
Other firms, including Bitwise Invest, 21Shares, Canary
Funds, and WisdomTree Funds, have also filed for XRP ETFs. However, their
applications have not yet been formally acknowledged. Meanwhile, President Trump has nominated Paul Atkins as the
next SEC chairman. Until his confirmation, Mark Uyeda is serving as the acting
chairman.
Ripple's Key Moves: Legal, DeFi, and Partnerships
Recently, Ripple has been engaged with several notable
developments across various sectors. The company has partnered with Revolut
and Zero Hash to expand access to its RLUSD stablecoin, aiming to
strengthen its market position and challenge the dominance of USDT and USDC.
This collaboration could enhance RLUSD’s visibility in the competitive
stablecoin market.
Ripple whales have been actively acquiring XRP tokens, with
recent data showing that large
investors purchased 520 million XRP during a recent price dip. This ongoing
accumulation has drawn attention to Ripple's market activity.
The SEC’s reassignment of Jorge Tenreiro, who previously
oversaw cryptocurrency cases such as Ripple’s and Coinbase’s, has
raised questions about the agency’s approach to crypto litigation.
Tenreiro's move to the IT department has sparked speculation on how it might
affect future decisions in Ripple's ongoing legal battle.
Ripple
recently donated $100,000 in XRP to aid communities affected by California
wildfires. Through The Giving Block platform, Ripple’s donation supports
organizations like World Central Kitchen and GiveDirectly, contributing to
relief efforts.
In DeFi, Ripple
has teamed up with Chainlink to integrate RLUSD with decentralized finance
applications on Ethereum. This partnership aims to expand RLUSD’s use case,
offering trading and lending features within the DeFi ecosystem.
Ripple is exploring XRP’s
potential inclusion in a US crypto reserve, though concerns about
centralization have emerged. Ripple's David Schwartz defended the
decentralization of the XRP Ledger, emphasizing its resilience to manipulation
and its independent nature.
In Japan, Ripple
expects XRP Ledger adoption by banks by 2025, as stated by SBI CEO
Yoshitaka Kitao. This initiative aims to improve cross-border payments and
currency conversions for remittances, enhancing Japan’s financial
infrastructure.
Lastly, the XRP
Ledger (XRPL) faced a brief disruption due to an issue with its consensus
mechanism, causing validations to fail and ledgers to "drift apart."
Ripple’s CTO David Schwartz confirmed the issue was resolved after a validator
reset the consensus, restoring normal network operations.
The US Securities and Exchange Commission (SEC) has formally
acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund (ETF).
The agency's action indicates that it will consider the proposal but does not
guarantee approval.
Meanwhile, the XRPUSD H1 chart indicates a bullish trend
that began yesterday. The price reached approximately 2.78000 and may continue
its upward movement for the near term.
SEC Starts XRP ETF Review Process
Grayscale plans to convert its existing XRP Trust into a
fully tradable ETF on the New York Stock Exchange (NYSE) Arca. The company
launched its XRP Trust several years ago, similar to its Bitcoin and Ethereum
trusts. If approved, the conversion would increase liquidity and accessibility
for investors.
The SEC’s acknowledgment is only the first step in the
approval process. The filing will be published in the Federal Register,
allowing a 21-day public comment period. After that, the SEC can approve,
reject, or extend the review by initiating further proceedings.
The decision follows a history of the SEC refusing to engage
with altcoin ETF applications under former Chairman Gary Gensler. Solana ETF
applications were withdrawn in recent months after the SEC declined to discuss
them. The agency has also acknowledged filings for a Dogecoin ETF, a shift from
past policies where altcoin ETF applications were typically rejected or
withdrawn.
XRPUSD Shows Bullish Momentum After Support
The XRPUSD H1 chart shows that after finding support at
2.32750, the price made a bullish move. It faced rejection around 2.50000,
followed by a bearish correction. After consolidating for a while, the price
made a strong move upward. As of now, the price remains bullish and may
continue its upward movement.
The model assigns a 70% probability of a positive legal
outcome for Ripple, which could boost investor confidence and institutional
adoption. Increased use of Ripple's ODL platform may also raise demand for XRP.
Market sentiment, especially Bitcoin's performance and global economic
conditions, will influence XRP’s price movement.
More Firms Await SEC XRP ETF Acknowledgment
Other firms, including Bitwise Invest, 21Shares, Canary
Funds, and WisdomTree Funds, have also filed for XRP ETFs. However, their
applications have not yet been formally acknowledged. Meanwhile, President Trump has nominated Paul Atkins as the
next SEC chairman. Until his confirmation, Mark Uyeda is serving as the acting
chairman.
Ripple's Key Moves: Legal, DeFi, and Partnerships
Recently, Ripple has been engaged with several notable
developments across various sectors. The company has partnered with Revolut
and Zero Hash to expand access to its RLUSD stablecoin, aiming to
strengthen its market position and challenge the dominance of USDT and USDC.
This collaboration could enhance RLUSD’s visibility in the competitive
stablecoin market.
Ripple whales have been actively acquiring XRP tokens, with
recent data showing that large
investors purchased 520 million XRP during a recent price dip. This ongoing
accumulation has drawn attention to Ripple's market activity.
The SEC’s reassignment of Jorge Tenreiro, who previously
oversaw cryptocurrency cases such as Ripple’s and Coinbase’s, has
raised questions about the agency’s approach to crypto litigation.
Tenreiro's move to the IT department has sparked speculation on how it might
affect future decisions in Ripple's ongoing legal battle.
Ripple
recently donated $100,000 in XRP to aid communities affected by California
wildfires. Through The Giving Block platform, Ripple’s donation supports
organizations like World Central Kitchen and GiveDirectly, contributing to
relief efforts.
In DeFi, Ripple
has teamed up with Chainlink to integrate RLUSD with decentralized finance
applications on Ethereum. This partnership aims to expand RLUSD’s use case,
offering trading and lending features within the DeFi ecosystem.
Ripple is exploring XRP’s
potential inclusion in a US crypto reserve, though concerns about
centralization have emerged. Ripple's David Schwartz defended the
decentralization of the XRP Ledger, emphasizing its resilience to manipulation
and its independent nature.
In Japan, Ripple
expects XRP Ledger adoption by banks by 2025, as stated by SBI CEO
Yoshitaka Kitao. This initiative aims to improve cross-border payments and
currency conversions for remittances, enhancing Japan’s financial
infrastructure.
Lastly, the XRP
Ledger (XRPL) faced a brief disruption due to an issue with its consensus
mechanism, causing validations to fail and ledgers to "drift apart."
Ripple’s CTO David Schwartz confirmed the issue was resolved after a validator
reset the consensus, restoring normal network operations.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
