According to Eleanor Terrett, the SEC has acknowledged Grayscale and NYSE's 19b-4 application to convert its $XRP Trust into an ETF. This acknowledgment does not equate to automatic approval nor guarantee future approval, but it is a critical step in the regulatory process that could influence XRP's market valuation depending on the SEC's final decision. Investors should monitor this development closely as it may impact XRP's trading dynamics.

According to Eleanor Terrett, the SEC has acknowledged Grayscale and NYSE's 19b-4 application to convert its XRP Trust into an ETF. This acknowledgment does not imply automatic approval or guarantee future approval by the SEC. However, it is notable for traders as it indicates a potential shift in regulatory stance that could eventually impact XRP market liquidity and investor interest (Source: Eleanor Terrett, Twitter).