Key Takeaways:
- WisdomTree has filed an application in Delaware to launch an XRP-focused ETF, signaling intent to pursue SEC approval.
- The filing comes amid heightened interest in XRP following Ripple’s partial legal victory regarding its classification as a non-security.
- WisdomTree joins a competitive field of applicants, including Bitwise and 21Shares, though no XRP ETF has received SEC approval yet.
WisdomTree, a New York-based asset management firm, has filed an application in Delaware to launch an exchange-traded fund (ETF) for XRP, signaling its intention to seek U.S. Securities and Exchange Commission (SEC) approval.
This move positions WisdomTree alongside other firms such as Bitwise, Canary Capital, and 21Shares, which have also submitted XRP ETF applications.
🚨NEW: Global ETF provider @WisdomTreeFunds has registered in the state of Delaware for an $XRP ETF. I have confirmed with the company this is a legitimate filing.
— Eleanor Terrett (@EleanorTerrett) November 25, 2024
Wisdom Tree has over $100 billion in assets under management. pic.twitter.com/BXutcLIW3x
However, no XRP ETFs have been approved by the SEC to date.
The filing comes during a pivotal period for XRP.
Ripple, the cryptocurrency’s developer, achieved a partial legal victory in July 2023 when a U.S. court ruled XRP is not a security.
🚨 BREAKING 🚨
— Ash Crypto (@Ashcryptoreal) November 25, 2024
$112 BILLION ASSET MANAGER WISDOMTREE JUST REGISTERED IN
DELAWARE FOR A SPOT $XRP ETF. $XRP IS GOING TO $3-$5 SOON 🚀 pic.twitter.com/XdtCy359Gu
Despite this, the SEC appealed the decision, with its opening brief due by January 15, 2025.
WisdomTree’s initiative highlights the growing interest in integrating XRP into mainstream financial markets.
If successful, it could pave the way for wider adoption of cryptocurrency ETFs, emphasizing XRP’s evolving role in the financial ecosystem and its potential as a regulated investment product.
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