XRP ETF

Reported by The Block: &nbsp;WisdomTree XRP Fund would be listed on the Cboe BZX Exchange, Inc.
WisdomTree previously registered an XRP entity on Nov. 25 in Delaware
Exchange-traded fund issuer WisdomTree took steps to potentially launch an &nbsp;ETF in a filing to the U.S. Securities and Exchange Commission on Monday.
The WisdomTree XRP Fund, if approved by the SEC, would be listed on the Cboe BZX Exchange, Inc. &nbsp;A ticker symbol had not yet been assigned. &nbsp;The Bank of New York Mellon is the administrator, according to the filing.
"The Trust’s investment objective is to gain exposure to the price of XRP, less expenses and liabilities of the Trust’s operations," according to the registration statement.
The firm registered an XRP entity in Delaware on Nov. 25. &nbsp;Other issuers, including Bitwise, 21Shares and Canary Capital, have also filed for spot XRP ETFs.
The SEC has not approved a spot XRP ETF before. &nbsp;The agency has been embroiled in a legal fight with Ripple since 2020 when it accused the company of raising $1.3 billion through the sale of XRP, which it views as an unregistered security.
Over a year ago, U.S. District Court for the Southern District of New York Judge Analisa Torres ruled that some of Ripple’s sales, called programmatic, of XRP did not violate securities laws because of a blind bid process in place for them. &nbsp;She did, however, rule that other direct sales of the token to institutional investors were securities. &nbsp;Later in August, Judge Torres ordered Ripple to pay $125 million in fines.
Both the SEC and Ripple are working to appeal parts of Judge Torres' decision.
In terms of risks detailed in the registration statement, WisdomTree warned investors that XRP could be considered a security.
"Determining whether a particular digital asset qualifies as a security is complex and unpredictable, and it is possible that valid legal arguments can be made both for and against their classification as securities," according to the filing. "Additionally, the SEC has suggested that the status of a digital asset may change over time as circumstances evolve."
As of December, XRP has become the world's third-largest crypto, following bitcoin and ether.&nbsp;

WisdomTree files with SEC for spot XRP ETF

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