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WisdomTree Files S-1 for Spot XRP ETF as XRP Price Soars 25%

Dec 2, 2024, 12:13 PM

Asset management firm WisdomTree has officially filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot XRP Exchange-Traded Fund (ETF). WisdomTree joins other firms such as Bitwise, 21Shares, and Canary Capital in applying for an XRP ETF. If approved, the ETF would track the daily price movements of XRP, the third-largest cryptocurrency by market capitalization. Bank of New York Mellon (BNYM) is set to serve as the trust’s administrator, fund accountant, and transfer agent for the ETF. Following the filing, XRP's price has risen by 25% in the past 24 hours, approaching a new all-time high.