The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Grayscale's proposal to convert its $16 million XRP Trust into an exchange-traded fund (ETF), initiating a review process that could reshape the future of XRP. This acknowledgment marks the beginning of a 21-day public comment period, followed by a review that may take up to 240 days. The market responded positively, with XRP experiencing a 4% increase to $2.60 after the announcement. Additionally, the SEC has also recognized Grayscale's filing for a spot Dogecoin ETF. Following the SEC's acknowledgment, XRP's price surged by 14% within 24 hours, reaching as high as $2.75, while Bitcoin (BTC) and Ethereum (ETH) saw slight declines of 0.33% and 1.18%, respectively. Furthermore, the SEC acknowledged the filing for a spot XRP ETF by 21Shares, which adds to the momentum surrounding cryptocurrency ETFs.