WisdomTree Files for Spot XRP ETF, Targeting 3rd Largest Crypto Asset

Dec 2, 2024, 11:04 AM

WisdomTree, an asset management firm, has filed for a spot XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), marking a significant move to expand its offerings beyond Bitcoin and Ethereum ETFs. The filing, known as an S-1, was registered in Delaware and indicates WisdomTree's intent to launch the 'WisdomTree XRP Fund.' This development follows similar filings by Bitwise, Canary, and 21Shares for spot XRP ETFs, suggesting a growing interest in XRP as an investment vehicle, which is now the 3rd largest crypto asset by market cap. Observers speculate that additional issuers might also file for XRP ETFs. The move is seen as bullish for XRP, potentially paving the way for more institutional investment in the cryptocurrency.