The fact is not a guarantee of approval of ETFs, but it is a necessary step.
If the SEC approves the funds, they would be ready to go public immediately.
Five XRP spot exchange-traded funds (ETFs) were listed with the Depository Trust and Clearing Corporation (DTCC), representing a major step forward in the regulatory process.
These are the ETFs of the asset managers Bitwise, Franklin Templeton, 21Shares, Canary and CoinShares, which They are currently listed in the “active and pre-launch” category.
This process does not imply automatic approval from the United States Securities and Exchange Commission (SEC). The proposals must still pass an exhaustive regulatory analysis.
Its inclusion in this process does not equate to definitive approval, but it does represent a necessary stage. It is one of the last steps before an ETF gets the green light to begin trading.
It should be noted that the DTCC It is a key entity in the clearing and settlement of financial securities in the United States. In addition, it plays a fundamental role as an intermediary between issuers and markets.
Nate Geraci, president of the financial advisory firm NovaDius Wealth Management, had expressed on November 3 that the XRP ETFs would be ready in a two-week windowas reported by CriptoNoticias.
If his estimate is met, the launch could take place between November 15 and 17, as long as the SEC does not introduce new delays in the process. One issue that may accelerate its approval is the imminent reopening of the United States government.
The launch of these financial instruments could drive a strong appreciation of the Ripple Labs cryptocurrency. This is because the approval of a spot ETF would open the door to greater institutional participation, which would increase demand and put upward pressure on its price.