The review of this XRP ETF is a pivotal step towards approval, a first in the US. This could pave the way for similar ETFs for other crypto assets, providing investors with new exposure options.
The United States Securities and Exchange Commission (SEC) has officially started reviewing the WisdomTree XRP Trust. This is the first XRP spot ETF proposed, marking a significant step towards the approval of a similar product. It paves the way for the introduction of ETFs for other crypto assets.
If the WisdomTree XRP Trust gets approved, it will become the first XRP spot ETF in the United States. This will allow investors to have exposure to Ripple through traditional brokerage accounts, eliminating the need to hold private keys or self-custody assets.
The application was filed by Cboe BZX Exchange, marking the SEC’s first official review of a US-based XRP spot ETF. The SEC now has 240 days to approve or reject the application while seeking public feedback on managing concerns related to market manipulation and investor protection.
In this context, Stuart Alderoty, Ripple’s Chief Legal Officer, reiterated this week that Ripple should not be considered a security in itself. This statement comes as discussions on the approval of the XRP ETF continue.
The SEC’s review of the XRP Spot ETF marks a significant step forward for crypto asset adoption in the United States. With growing expectations despite SEC delays, this initiative opens up new opportunities for institutional and retail investors within the Ripple ecosystem.
Stay informed about future developments regarding the approval of the Ripple ETF and upcoming regulatory decisions by following our specialized coverage of the crypto industry news.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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