- Ripple SEC filings have sparked speculation about XRP being recognized as a commodity, but experts caution that the SEC has not officially changed its stance.
- Despite the ETF filings, XRP’s regulatory status remains uncertain, with the SEC continuing to clarify digital asset classifications.
Excitement spread through the Ripple community as the SEC acknowledged multiple XRP ETF filings. Many speculated that this move signals the SEC now recognizes XRP as a commodity. But does it? Experts have weighed in on the matter.
Multiple XRP ETF Filings Spark Speculation
The buzz started when the SEC recognized the Cboe BZX Exchange’s application to list the 21Shares XRP ETF. This came just a day after the regulator acknowledged Grayscale’s XRP ETF filing.
Interestingly, 21Shares referenced the legal precedent from the SEC v. Ripple case, arguing that XRP is not a security under federal law. Instead, they suggested that XRP should be classified as a commodity under the Commodity Exchange Act (CEA).
With these filings, some believed the SEC had shifted its stance on XRP’s classification.
FOX Business Journalist Provides Clarity
However, FOX Business journalist Eleanor Terrett quickly responded to these speculations. She stated that the SEC’s acknowledgment of these filings does not mean it now considers XRP a commodity.
According to Terrett, the SEC is merely recognizing applications that classify XRP as a commodity within an ETF structure. This does not indicate an official stance on XRP’s regulatory status.
She also pointed out that the SEC has acknowledged ETF filings for other cryptocurrencies, including Solana (SOL), which the agency previously labeled a security in enforcement actions.
Additionally, she highlighted the SEC’s decision to pause its lawsuit against Binance over crypto assets’ security classification. This move suggests the regulator is taking a broader approach to crypto regulation while its Crypto Task Force works to establish clearer guidelines.
Ripple Regulatory Status Still Unclear
Despite the legal clarity XRP gained from Judge Analisa Torres’ ruling that it is not a security, uncertainty remains. The SEC did not challenge this ruling in its appeal, but the case is still unresolved.
Experts believe the ongoing lawsuit could impact the approval of an XRP ETF. The SEC is attempting to address regulatory uncertainty through its Crypto Task Force, which aims to clarify the classification of digital assets.
Until the SEC takes a definitive stance, XRP’s regulatory status will remain in limbo. While ETF filings are a step forward, they do not guarantee that XRP will be officially recognized as a commodity anytime soon.
