As a researcher following the crypto space, I’ve been tracking a recent proposal from the NYSE. They’re suggesting that XRP should be treated similarly to Bitcoin and Ethereum when it comes to listing standards. This is a significant development, especially considering the SEC, under Gary Gensler’s leadership, previously considered XRP a security. It’s a definitely a positive sign for the altcoin and its future.
XRP Named as Eligible Asset Alongside Bitcoin and Ethereum In SEC Filing
The Securities and Exchange Commission (SEC) is asking for public feedback on a proposed change from the New York Stock Exchange (NYSE). This change would allow certain crypto exchange-traded funds (ETFs) to invest up to 80% of their value in eligible cryptocurrencies, following a general listing standard. The NYSE specified that XRP, along with Bitcoin and Ethereum, would be considered eligible cryptocurrencies under this proposal.
This highlights the SEC’s existing rules for approving crypto ETFs, which were established last year. These rules allow the agency to consider tokens as eligible assets for quicker approval. This is a change from the previous approach under Gary Gensler, when the SEC indicated it would only approve ETFs for Bitcoin and Ethereum, as those were the only two cryptocurrencies it didn’t consider to be securities.
As a researcher following the crypto space, I’ve been pleased to see some much-needed regulatory clarity regarding XRP. The SEC, along with the CFTC, recently issued guidance classifying XRP, Bitcoin, Ethereum, and other major tokens as commodities. We anticipate this classification will soon be formalized into law through the CLARITY Act, which should provide a more stable legal framework for these assets.
Recent decisions by the Securities and Exchange Commission (SEC), including the proposed CLARITY Act, are positive news for this cryptocurrency. It previously received a favorable ruling when a judge determined it wasn’t a security in a case brought by the SEC against Ripple. This earlier decision was crucial in allowing the SEC to approve exchange-traded funds (ETFs) based on the token, as the SEC couldn’t deny the applications based on its security status.
Ripple CEO Praises SEC For CLARITY
Speaking at the XRP Las Vegas Conference, Ripple CEO Brad Garlinghouse complimented the SEC on its recent work to create clearer rules for the crypto industry. He pointed out that the current SEC leadership, under Paul Atkins, has brought more clarity in just one year than the previous administration led by Gary Gensler did in four.
Ripple’s CEO reaffirmed the company’s strong commitment to XRP, emphasizing they have the most to gain from its success as the largest holder of the cryptocurrency. He also responded to criticism from Cardano‘s founder, Charles Hoskinson, who claimed Ripple’s activities don’t benefit XRP holders. Garlinghouse explained that an IPO isn’t a current priority, but hinted at a special reward for the community when the time comes.
As of today, XRP is trading at approximately $1.38, showing an increase over the past 24 hours, based on CoinMarketCap data.
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2026-05-02 21:04