MEMX submits application for listing of 21Shares XRP ETF to US SEC

On February 18th, according to Cointelegraph, the US securities trading platform MEMX has applied to the US Securities and Exchange Commission (SEC) for permission to classify the 21Shares XRP ETF as a "commodity based trust". This application marks another attempt by US trading platforms to include ETFs containing spot XRP in trading. The application also highlights the changing stance of the US Securities and Exchange Commission (SEC) on cryptocurrencies, particularly as US President Donald Trump begins his second term. In 2020, the SEC sued Ripple, accusing the blockchain development company of issuing unregistered securities when launching the XRP token. The case was partially resolved before a US judge ruled that XRP tokens themselves are not securities, but may meet the definition of securities in certain circumstances.