XRP Jumps As SEC Reviews ETF Filings, Brazil Approves First Spot ETF – Retail Sentiment Remains Bearish

XRP gained 4.5% in early U.S. trading on Thursday after the Securities and Exchange Commission (SEC) acknowledged multiple spot XRP exchange-traded fund (ETF) filings. 

At the same time, asset manager Hashdex received regulatory approval from Brazil’s Comissão de Valores Mobiliários (CVM) – the country’s SEC-equivalent authority – to launch what could become the world's first spot XRP ETF, according to Portal do Bitcoin.

XRP’s rally outpaced broader crypto markets, with Bitcoin (BTC) rising just 1% and Ether (ETH) trading flat over the last 24 hours, according to CoinGecko.

The SEC acknowledged filings from Nasdaq and Cboe BZX exchanges on behalf of CoinShares, Canary Capital, and WisdomTree, as per notices posted on the agency’s website. 

This comes days after similar filings from Grayscale and Bitwise were recognized.

The SEC is now soliciting public comments. Once published in the Federal Register, the applications will have a 240-day window to be approved or rejected.

Investors are also focused on the SEC’s ongoing legal battle with Ripple, which could influence the agency’s final decision on the pending ETF applications. 

Under former Chair Gary Gensler, the SEC aggressively pursued litigation against major crypto firms, including Coinbase and Binance. 

However, with Gensler’s departure, investors are watching for potential shifts in policy under acting Chair Mark Uyeda. The SEC is yet to comment on its appeal of Judge Analisa Torres’s ruling in its case against Ripple.

Despite the gains, retail sentiment on Stocktwits continued to trend in the ‘bearish’ (35/100) territory accompanied by ‘low’ levels of chatter. 

Retail traders remain cautious, closely monitoring whether President Donald Trump’s ties to Ripple could translate into regulatory relief.

The token has surged 350% over the past six months, with much of the rally occurring after Trump’s presidential victory in November, which raised expectations of a more crypto-friendly regulatory stance. 

Still, XRP has struggled in February, falling 11% month-to-date, as investors await clarity on U.S. regulatory moves and Brazil’s progress in launching an XRP ETF.

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