WisdomTree Files for XRP ETF
WisdomTree has submitted a Form S-1 registration statement to the SEC for a spot XRP exchange-traded fund (ETF). This move comes as part of a broader trend of institutional interest in XRP as an investment option.
Key Points:
- WisdomTree joins other firms in seeking SEC approval for spot XRP ETFs.
- The proposed ETF would track the performance of XRP, with Bank of New York Mellon as the trust administrator.
- XRP recently surpassed Tether’s USDT to become the third-largest digital asset by market capitalization.
- XRP’s price surged to $2.42, with a 68% gain in market capitalization.
Regulatory Landscape:
The timing of these filings coincides with potential changes in regulatory policies, as President Donald Trump’s recent election victory may lead to more crypto-friendly regulations. Rumors also suggest ongoing discussions between Ripple Labs, the company behind XRP, and the Republican administration.
Uncertain Approval:
Despite the potential for expedited approval under Gensler’s successor, the ongoing legal dispute between Ripple Labs and the SEC adds uncertainty. Ripple’s US heritage and Trump’s support for the company could play a role in the approval process.
Author and Editor Information
Author: Liam ‘Akiba’ Wright, Editor-in-Chief at CryptoSlate
Editor: News Desk, Editor at CryptoSlate
