Seeds of Wisdom RV and Economic Updates Monday Afternoon 2-24-25
Good Afternoon Dinar Recaps,
GRAYSCALE'S XRP ETF UNDER SEC REVIEW—THE COUNTDOWN BEGINS
The SEC’s review of Grayscale’s XRP ETF is officially underway, sparking speculation that a crypto-friendly shift could lead to a groundbreaking approval.
SEC Begins Review of Grayscale’s XRP ETF Proposal
The Federal Register officially published Grayscale’s XRP exchange-traded fund (ETF) proposal on Feb. 20, 2025, marking the beginning of the U.S. Securities and Exchange Commission’s (SEC) review process. Fox Business journalist Eleanor Terrett highlighted the significance of this step on social media platform X, stating:
Grayscale’s XRP ETF (19b-4 filing) has officially been posted to the Federal Register. All this means is that the clock starts now for the SEC to engage and either approve or deny on or before October 18.
The SEC follows a structured timeline when reviewing ETF proposals under the 19b-4 process. Initially, the agency has 45 days from publication to make a decision or extend the review.
If an extension is granted, the SEC can push the deadline to 90 days. The commission can further extend the timeline, with additional review periods of 45 and 60 days, bringing the latest possible deadline to Oct. 18, 2025.
During this time, the SEC will solicit public comments, analyze market impact, and assess compliance with regulatory requirements. Approval could come at any stage, but historically, the SEC has taken the full timeline before issuing a final decision.
The filing, submitted by NYSE Arca, seeks to list and trade shares of the Grayscale XRP Trust under Rule 8.201-E, which governs commodity-based trust shares.
The securities regulator has already approved spot bitcoin ETFs and spot ether ETFs, paving the way for broader cryptocurrency investment products.
The departure of former SEC Chair Gary Gensler has further altered the agency’s stance, with his successor taking a more crypto-friendly approach. Under the new leadership, the SEC has paused or dropped multiple lawsuits against crypto firms, fueling speculation that Ripple’s ongoing legal battle could be the next case to be dismissed.
This change in regulatory climate has increased optimism that the XRP ETF may have a smoother path to approval compared to earlier crypto ETF applications.
With the publication in the Federal Register, the SEC will now open a public comment period before making a final decision on the Grayscale XRP ETF.
If approved, the fund would allow investors to trade the XRP ETF shares on a regulated exchange, potentially increasing market liquidity and accessibility for XRP. The crypto community is closely watching, as the SEC’s ruling could influence future cryptocurrency ETFs and broader digital asset adoption.
@ Newshounds News™
]Source: Bitcoin News
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BRICS: US & RUSSIA TO ANNOUNCE “MAJOR ECONOMIC” PARTNERSHIP
Despite the growing tensions between both the BRICS economic alliance and the US, the Western power and Russia are reportedly nearing a “major economic” deal, according to US President Donald Trump. Indeed, Trump took to Truth Social to discuss ongoing negotiations with both Moscow and Ukraine to end the war amid its three-year anniversary.
In the post, Trump recalled a meeting with French President Emmanuel Macron and Canada’s Prime Minister Justin Trudeau that took place Monday.
He noted that, amid hopes between the three of ending the war, he was nearing a signed “Critical Minerals and Rare Earth’s Deal” with Ukraine. Therefore, the President claims he is nearing a deal with both nations to end the ongoing military conflict.
US and Russia Nearing Economic Partnership as Trump Talks Negotiations to End Ukraine War
Since his November 2024 election win, Donald Trump has not been shy about his opposition to the BRICS bloc. Indeed, he has spoken about the imposition of 150% tariffs on the alliance as he seeks to protect the status of the US dollar globally. Yet, the United States commander-in-chief is reportedly nearing a massive deal with one of its most prominent nations.
Despite the growing BRICS tensions, the US and Russia are nearing a “major economic” partnership, according to US President Trump. In a post to Truth Social, he explained ongoing negotiations with both Moscow and Ukraine in his effort to end the war that he claimed would have never started if I was President.”
“I am in serious discussion with President Vladimir Putin of Russia concerning the ending of the war,” Trump said. Moreover, he also noted there will be “major Economic development transactions which will take place between the United States and Russia. Talks are proceeding very well,” he added.
The talks have been a byproduct of growing relations between the two countries. Just last week, Putin called for Russia to partner with Tesla CEO Elon Musk. Indeed, the world’s richest man has headed Trump’s DOGE commission and was key in his bid for reelection.
@ Newshounds News™
Source: Watcher Guru
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US GOLD INFLUX: SWISS EXPORTS SURGE TO UNPRECEDENTED LEVELS
In January, Swiss gold exports to the U.S. reached a record high of 193 metric tons, driven by fears of potential tariffs. This surge, exceeding the total for 2024, was triggered by a premium on Comex gold futures, creating a profitable opportunity for traders to deliver gold to U.S. warehouses.
Due to differing bar sizes between London and New York, gold is typically refined in Switzerland before being shipped to the U.S. This influx contributed to a significant increase in gold held in Comex depositories and a near doubling of Switzerland’s total gold exports.
@ Newshounds News™
Source: Bitcoin News
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