Victory

WisdomTree, a major U.S. asset management firm managing over $113 billion in assets, has registered a trust in Delaware, taking the first step towards launching an XRP Exchange-Traded Fund (ETF). 
The “WisdomTree XRP Fund” <a href="https://icis.corp.delaware.gov/eCorp/EntitySearch/NameSearch.aspx" target="_blank" rel="noreferrer noopener nofollow">filing</a> is an initial step toward launching the ETF but does not yet include a formal application to the Securities and Exchange Commission. According to Eleanor Terrett, WisdomTree is <a href="https://x.com/EleanorTerrett/status/1861095869841289412" target="_blank" rel="noreferrer noopener nofollow">expected</a> to follow this registration with an S-1 filing with the SEC. 
The XRP ETF would allow investors to gain exposure to XRP, the sixth-largest cryptocurrency by market capitalization, without owning the asset directly. 
This move comes as part of a broader trend in the crypto market, where firms are expanding their ETF offerings beyond Bitcoin and Ethereum, which have dominated the market thus far. 
In October, <a href="https://www.cryptotimes.io/2024/10/02/bitwise-files-for-xrp-etf-application-in-delaware/" target="_blank" rel="noreferrer noopener">Bitwise also filed for an XRP ETF</a>, and other firms like Canary Capital have sought approval for ETFs based on assets like Solana, Litecoin, and HBAR. 
An XRP ETF would track the price of XRP, providing both institutional and retail investors easier access to the digital asset. However, the road to approval remains uncertain due to the ongoing regulatory challenges surrounding XRP. 
Ripple Labs, the company behind XRP, has been involved in a prolonged legal battle with the SEC over whether XRP is a security. A recent court ruling differentiated between Ripple’s institutional sales of XRP, which were deemed securities, and sales to the public, which were not. The SEC has appealed the decision, and the legal dispute continues. 
Despite this, there is speculation that the SEC’s stance on cryptocurrency could soften, especially with the potential <a href="https://www.cryptotimes.io/2024/11/21/gary-gensler-resign-from-role-of-sec-chair/" target="_blank" rel="noreferrer noopener">resignation of SEC Chair Gary Gensler</a>. If the XRP ETF is approved, it could lead to more diverse investment products for cryptocurrencies, reflecting growing institutional interest in digital assets amid regulatory uncertainty. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/25/ripple-hints-at-victory-as-gensler-prepares-to-step-down/" target="_blank" rel="noreferrer noopener">Ripple Hints at Victory as Gensler Prepares to Step Down</a> 
</blockquote>

WisdomTree Takes First Step Toward Launching XRP ETF

The Crypto Times

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