The SEC is officially looking at CoinShares' XRP ETF that Nasdaq filed. 

Now, we've got 21 days of public comments coming.

Will this be the one that finally makes it over the line?

The ETF Squad

CoinShares isn't alone in this race, as 21Shares, Grayscale, and Bitwise are already in line.

Canary Capital and WisdomTree are still waiting at the door though, showing that there’s no shortage of institutional interest for more crypto ETFs.

The SEC has been on a crypto ETF approval spree lately – Bitcoin ETFs got the green light in January, and Ethereum ETFs followed in July like it was the most natural thing ever.

The latter even had a shockingly low chance of approval, but somehow, Gary Gensler ended up with a change of heart. 

Crypto Mom (Hester Peirce) is running a whole new crypto squad at the SEC now that the Gensler era has gone the way of the dinosaur.

They're deciding which coins are securities and which aren't, and the future of crypto ETFs might depend on what these folks eat for breakfast – one bad bagel and your coin might not make the cut.

The Crystal Ball

Bloomberg's crypto nerds are giving this a 65% chance to pass, but Polymarket degens are putting the odds markedly higher, betting 81% that it will happen this year.

The smart money is getting more bullish by the day.

Trump’s recent sharing of some XRP news on his Truth Social platform is no doubt adding fuel to the fire – when the President is on your side, it’s hard to assume big things aren’t in the works. 

XRP is sitting around $2.60 and hasn’t moved much on the news – that price means it's still sitting pretty as the third-biggest crypto by market cap.

The institutional money's watching closer than the SEC watches Binance.

Zooming Out 

Nasdaq isn’t stopping at XRP – they just filed for a Litecoin ETF on top of that.

CoinShares is trying to conquer America one ETF at a time, proving that this isn't just another ETF application – we're watching crypto go mainstream in real time.

Wall Street is about to get its hands on XRP whether they like it (or want it) or not.

The SEC is actually reviewing crypto ETFs instead of just saying no, and the odds of approval are higher than ever before.

Maybe the Ripple die-hards will have the last laugh after all.