XRP ETF

<ul class="wp-block-list">
  
 <li>WisdomTree files for XRP ETF with SEC, signaling growing institutional interest in crypto-backed funds.</li>   
 <li>SEC's Ripple legal battle and leadership changes could influence XRP ETF approvals and broader crypto adoption.</li>   
 <li>XRP ETFs gain momentum as WisdomTree joins major players in seeking SEC approval amid market optimism.</li> 
</ul>   
<p>WisdomTree, an important fund manager with $113 billion under management, has <a href="https://www.sec.gov/Archives/edgar/data/2046791/000121465924019800/wtxrp112224s1.htm">filed</a> a Form S-1 registration statement with the SEC. The filing includes plans for the WisdomTree XRP Fund, the company's first venture into XRP-based financial products.</p>   
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<p>The fund's administrator, according to the December 2 filing, is Bank of New York Mellon. However, WisdomTree has not provided a ticker symbol for the proposed fund. The ETF will directly track the price of XRP, the third-largest cryptocurrency by market capitalization.</p>   
<h2 class="wp-block-heading" id="h-joining-the-race-for-xrp-etfs"><strong>Joining the Race for XRP ETFs</strong></h2>   
<p>WisdomTree joins <a href="https://cryptonewsland.com/bitwise-strengthens-crypto-leadership-with-gxrp-rebrand-and-ripples-strategic-investment/">Bitwise</a>, 21Shares, and Canary Capital, which all filed for XRP ETFs earlier this year. XRP ETFs are gaining traction, indicating more institutional interest in the cryptocurrency market.</p>   
<p>WisdomTree has previously introduced an XRP-based product in Europe, called WisdomTree Physical XRP (<a href="https://www.bloomberg.com/quote/XRPW:SW">XRPW</a>). This exchange-traded product is available on several major platforms, including Deutsche Börse Xetra, Swiss Exchange, and Euronext.</p>   
<h2 class="wp-block-heading" id="h-legal-challenges-could-impact-launch"><strong>Legal Challenges Could Impact Launch</strong></h2>   
<p>The continuing <a href="https://cryptonewsland.com/ripple-and-secs-legal-clash-set-to-continue-through-mid-2025/">legal dispute</a> between the SEC and Ripple Labs may cause delays in approving XRP ETFs. The SEC has appealed a court ruling that XRP sales to ordinary investors do not constitute securities transactions. Ripple has responded by filing a cross-appeal.</p>   
<p>Despite these issues, optimism remains high owing to anticipated changes in SEC leadership. Gary Gensler, the current SEC head, is <a href="https://cryptonewsland.com/gary-gensler-to-step-down-as-sec-chair-on-january-20-2025/">scheduled to step down</a> in January. Industry insiders anticipate the new leadership could have a more crypto-friendly regulatory position.</p>   
<h2 class="wp-block-heading" id="h-broader-market-implications"><strong>Broader Market Implications</strong></h2>   
<p>One significant step toward institutional cryptocurrency adoption is the possible approval of XRP ETFs. Recent market changes, such as Donald Trump's election victory, have boosted support for pro-crypto measures.</p>   
<p>Ripple CEO Brad Garlinghouse is <a href="https://cryptonewsland.com/brad-garlinghouse-predicts-xrp-etf-success/">optimistic about XRP's future</a>. He emphasized the possibility for the cryptocurrency market to benefit from discussions with the new administration.</p>   
<p>WisdomTree's action reflects growing momentum in the XRP ecosystem, while the market awaits further regulatory clarification.</p> 
<p>The post <a href="https://cryptonewsland.com/wisdomtree-joins-xrp-etf-race-with-sec-filing/">WisdomTree Joins XRP ETF Race with SEC Filing, Names BNY Mellon as Administrator</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

WisdomTree Joins XRP ETF Race with SEC Filing, Names BNY Mellon as Administrator

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