United

<p>Last week, WisdomTree Digital Commodity Services, LLC, a subsidiary of a prominent New York-based asset management firm with over $113 billion in AUM, filed for an <a href="https://coinpedia.org/news/wisdomtree-files-for-xrp-etf-via-delaware-trust-joins-bitwise-canary-capital-in-the-race/" target="_blank" rel="noreferrer noopener">XRP exchange-traded fund</a> (ETF) with Delaware authorities. Earlier today, the investment firm submitted to the Securities and Exchange Commission (SEC) the S-1 filing for the WisdomTree XRP Fund.</p>   
<p>According to the <a href="https://www.sec.gov/Archives/edgar/data/2046791/000121465924019800/wtxrp112224s1.htm#useofproceeds" target="_blank" rel="noreferrer noopener nofollow">SEC filings</a>, the WisdomTree XRP Fund will tap into the Bank of New York Mellon (BNYM) as the trustee, fund accountant, and transfer agent. However, the prospectus for the WisdomTree XRP Fund did not reveal the ticker that will be listed on the Cboe BZX Exchange, thus indicating several updates of the filings will take place in the near term.</p>   
<h2 class="wp-block-heading" id="h-growing-interest-in-xrp-among-institutional-investors">Growing Interest in XRP Among Institutional Investors</h2>   
<p>As Coinpedia previously reported, the <a href="https://coinpedia.org/news/xrp-etf-news-institutional-demand-surges-amid-ripple-vs-sec-lawsuit/" target="_blank" rel="noreferrer noopener">demand for XRP among institutional investors</a> has significantly grown following the anticipated crypto policy implementation in the United States. In addition to WisdomTree, several other fund managers have filed to offer a spot XRP ETF to prospective investors to help diversify their crypto portfolios.</p>   
<p>For instance, asset management firm 21Shares recently <a href="https://coinpedia.org/news/21shares-joins-the-race-for-xrp-etf-approval/" target="_blank" rel="noreferrer noopener">fueled for a spot XRP ETF</a>. Additionally, Bitwise, Grayscale Investments, and Canary Capital have all filed for a similar product.</p>   
<p>As a result, it is evident that the demand for XRP among institutional investors is exponentially growing amid regulatory clarity in the United States.</p>   [post_titles_links postid="387971"]   
<h2 class="wp-block-heading" id="h-market-impact">Market Impact</h2>   
<p>The direct impact of the high demand for XRP among institutional investors is visible on the rising market value. The large-cap altcoin, with a fully diluted valuation of about $240 billion, overtook Solana (SOL) and <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noreferrer noopener">Binance (BNB)</a> to become the third largest crypto asset, excluding stablecoins.</p>   
<p>After more than six years of consolidation, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a> is well positioned to enter its discovery phase of the macro bull cycle in the coming months.</p>

Ripple News : WisdomTree Submits XRP ETF S-1 Application With the US SEC

Table of Contents

CoinPedia News

Other articles published on Dec 2, 2024

Binance Will Support the MONKY Airdrop for FLOKI and APE Holders

U.S. DOJ Investigating Polymarket for Alleged U.S. Citizen User Activity

This Shiba Inu Competitor Will Rocket 36x in the Next 58 Days

Ripple CTO Reacts to XRP Becoming Third-Biggest Cryptocurrency

Altcoin Season Is Here: Already Holding Shiba Inu, Dogecoin, and PEPE? Here Are 2 More Meme Coins...

Sol Sniper Launches First Memecoin Trading Bot for X

Join our free newsletter for daily crypto updates!