Global asset manager WisdomTree has made a significant move toward creating an exchange-traded fund (ETF) for XRP by filing for a Delaware trust, a preliminary step before seeking approval from the U.S. Securities and Exchange Commission (SEC). If successful, the ETF would track the market <a href="https://optimisus.com/press-releases/xrp-and-ada-face-tough-competition-as-this-token-set-to-gain-15000-next-year/" rel="noopener noreferrer nofollow">performance of XRP</a>, currently the sixth-largest cryptocurrency by market capitalization.WisdomTree joins other asset managers, such as Bitwise and Canary Capital, in the race to launch XRP ETFs. While Bitwise filed for its XRP ETF in October and Canary Capital seeks to track XRP prices via a benchmark index, WisdomTree plans to differentiate itself by focusing on market performance tracking.The company, which oversees over $113 billion in assets, also emphasized that most of its XRP holdings would be stored in cold storage, ensuring robust security for investors.Recent developments at the SEC have fueled optimism about XRP ETF approvals. SEC Chair Gary Gensler’s resignation has coincided with a sharp 180% surge in XRP&#39;s price, bringing it to its highest level in three years. This shift could signal a more crypto-friendly regulatory landscape, potentially easing the approval process for <a href="https://optimisus.com/press-releases/bitcoin-analyst-predicts-3000-rally-for-xrp-price-but-says-shiba-inu-and-wallitiq-will-break-10000/" rel="noopener noreferrer nofollow">XRP ETFs</a>.Ripple Labs, the company behind XRP, has long advocated for regulatory clarity in the digital asset sector. CEO Brad Garlinghouse has expressed confidence that institutional interest and evolving regulations make an XRP ETF inevitable.WisdomTree’s filing aligns with broader trends in cryptocurrency ETFs, as interest expands beyond Bitcoin and Ethereum. With firms like VanEck and 21Shares also seeking ETF approval for Solana, the SEC’s decisions in early 2025 will likely shape the next phase of institutional adoption for digital assets.This step by WisdomTree reflects growing momentum in the crypto space, as regulatory shifts open new doors for innovative investment products like XRP ETFs.

WisdomTree has filed for a Delaware trust to launch an XRP ETF

Optimisus

Other articles published on Nov 26, 2024

Tether’s $5B mint and political entanglements raise suspicion about industry

TRON’s Justin Sun joins Trump’s crypto venture WLFI as Advisor

Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, While Sh...

Crypto Market Moves: XLM Bulls Push Higher, DOT Consolidates, TIA Seeks Direction

Phlomis Finance and Swiss Impact Investment Fund responsAbility Announce Strategic Collaboration ...

MicroStrategy Acquires 55,500 BTC, Total Holdings Reach 386,700

Join our free newsletter for daily crypto updates!