CBOE Submits 19b-4 Filing for Four XRP ETFs to SEC

Highlights:

• CBOE BZX Exchange has presented a 19b-4 filing that could result in four XRP ETF approvals.
• The implicated issuers for the ETFs were Bitwise Invest, Canary Capital, 21Shares, and WisdomTree.
• 19b-4 application is the second step that would culminate in the eventual ETF approval

In one of her most recent tweets that has gained considerable traction, renowned Fox Business journalist Eleanor Terrett revealed that CBOE BZX Exchange has presented a 19b-4 application on behalf of four XRP Exchange Traded Funds (ETFs) firms, which include Bitwise Invest, Canary Capital, 21Shares and WisdomTree.

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The filing was presented to the United States Securities and Exchange Commission (SEC). Hence, the regulatory watchdog will finally decide on the entities to approve based on critical assessment. Per Terrett, the 19b-4 application is the second step in the processes that would lead to the spot ETF approvals. Notedly, before now, each of the implicated issuers must have tendered initial S-1 applications to the SEC.

Part of the journalist’s tweet read:

“The 19b-4 forms are the next step in the ETF approval process after issuers file their S-1s. The 19b-4s basically ask the SECGov to allow them to list and trade the prospective ETFs.” 

Aside from the mere euphoria that usually accompanies ETF endorsement, the influence on XRP will be massive, especially in terms of price actions.

Approval by the SEC will Likely Not Happen Anytime Soon

Terrett mentioned that the 19b-4 application does not equate to a closer timeline for the final ETF approval. She added that the regulatory agency would first acknowledge the recipient of the application before even deciding whether to endorse or reject the filing.

At the time of her tweet, the Fox Journalist said that the SEC had not admitted the recipient of the application, which invariably implies that the SEC has yet to take any significant step concerning the ETF approval. It is worth noting that after acknowledging the filing submission, the procedures to either accept or reject the filing could take roughly 240 days.

🚨NEW: The @CBOE has just filed the 19b-4s on behalf of @BitwiseInvest and @CanaryFunds for their $XRP ETFs.

The 19b-4 forms are the next step in the ETF approval process after issuers file their S-1s. The 19b-4s basically ask the @SECGov to allow them to list and trade the… pic.twitter.com/vMkoTk6G3P

— Eleanor Terrett (@EleanorTerrett) February 6, 2025

For context, the estimated six-month interval preceding every final ETF approval was coined out of past endorsements, particularly the ones involving Bitcoin and Ethereum in 2024. However, the US crypto regulatory landscape is already on the verge of a major overhaul with a new SEC leadership.

Recently, Hester Peirce, the newly appointed Crypto Task Force head, released a publication detailing how she plans to improve the SEC regulatory guidelines by working closely with other commissioners that constitute the task force committee.

Among her plans for the regulatory watchdog was working out a feasible method to simplify crypto ETF approvals. While she did not go into details on what the simplification entails, market participants believe that it would be less bureaucratic, with a shortened approval timeframe.

BREAKING :

WISDOMTREE, 21SHARES AND CANARY FILES FOR XRP ETF WITH CBOE.#XRP ETF IS COMING IN 2025 🚀 pic.twitter.com/OcN0OC9Bn4

— CryptoJack (@cryptojack) February 7, 2025

Litecoin’s ETF Edges Closer with 19b-4 Application Acknowledgement from the SEC

Apart from XRP, several other ETF approvals involving cryptocurrencies like Litecoin and Solana (SOL) have recently been gaining traction. Among these digital assets, Litecoin seemed to have taken a front foot in the race for the ETF endorsement.

In one of its old publications, Crypto2Community reported that the SEC had acknowledged Canary’s Litecoin ETF 19b-4 application Nasdaq. In its response, the SEC said it is open to receiving comments on Litecoin ETF approval. Aside from Canary, Grayscale also recorded its 19b-4 filings acknowledgment recently, highlighting a high tendency for Litecoin’s imminent ETF approval.

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