FOX Business Journalist has provided clarity on recent speculations that the U.S. SEC now considers XRP a commodity due to its acknowledgment of multiple XRP ETF filings.
Over the weekend, excitement swept the XRP community after the SEC recognized another XRP ETF filing.
Specifically, the securities regulator recognized Cboe BZX Exchange’s application to list and trade shares of 21Shares XRP ETF. This recognition comes a day after the regulator acknowledged Grayscale’s XRP ETF application.
Notably, the SEC cited comments from 21Shares, which referenced legal precedent from the SEC v. Ripple lawsuit to indicate that XRP is not a security under federal securities law. 21Shares contended that XRP be viewed as a commodity under the Commodity Exchange Act (CEA).
This development, especially the recognition of multiple ETF filings, sparked speculation that the SEC now considers XRP a commodity.
Done deal folks.
XRP is a commodity.
READY TO ROCK SON! 😸🔥 https://t.co/NIO4Sc6YhO pic.twitter.com/MhKFQ6Srg8
— Chad Steingraber (@ChadSteingraber) February 15, 2025
FOX Business Journalist Reacts
Amid this speculation, FOX Business Journalist Eleanor Terrett shared a dissenting view. According to her, the acknowledgment does not necessarily imply that the commission now considers XRP a commodity.
She emphasized that the commission only acknowledges that prospective issuers are seeking to offer a product that classifies XRP as a commodity under a securities wrapper, which is the ETF itself.
The pro-crypto journalist pointed out that the recognition follows a broader trend that has seen the SEC acknowledge ETF filings for other cryptocurrencies, like Solana (SOL), which the previous leadership classified as a security in different enforcement actions.
Additionally, Terrett mentioned that the SEC paused the Binance lawsuit about whether certain crypto assets constitute securities. At the same time, its Crypto Task Force works to provide regulatory clarity for the industry.
Therefore, she suggested that the SEC may be acknowledging all crypto ETF filings to avoid being seen as picking winners and losers. Despite commending the recognition of the ETF filings, she emphasized that it is challenging to ascertain the commission’s views on XRP regulatory status until it starts engaging with the applications more seriously.
XRP Still in Regulatory Dilemma
In the meantime, XRP’s regulatory classification remains uncertain due to the ongoing SEC v. Ripple lawsuit. Recall that XRP received legal clarity earlier in the lawsuit when a federal judge asserted that it is not security. However, the SEC did not challenge Judge Analisa Torres’ classification of XRP in its appeal.
Despite this, some experts still think the lawsuit could hinder the approval of XRP ETF unless a resolution is reached. The SEC leadership is currently trying to end the securities classification dilemma via the Crypto task force.
It recently provided insights into its priorities that could bring much-needed clarity to the industry. This effort is expected to end the regulatory uncertainty in the crypto space, potentially resolving all non-fraud litigation against crypto businesses like Ripple.
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