The recent filing for a spot XRP ETF by WisdomTree has propelled XRP’s price upward, sparking excitement in the crypto community. This development follows growing momentum in the cryptocurrency ETF space, which began with Bitcoin and Ethereum approvals earlier this year. The inclusion of XRP could mark a significant milestone, potentially drawing more institutional investors into the market.
WisdomTree’s move comes at a time of heightened interest in regulated crypto investment vehicles. 21Shares, another major player in exchange-traded products, has also filed with the SEC to launch an XRP ETF, citing the token’s commodity-like status as ruled in past legal disputes between Ripple and the SEC. These applications aim to replicate the success of Bitcoin ETFs, which have significantly bolstered institutional participation in digital assets.
Industry leaders speculate whether prominent asset managers like BlackRock and Fidelity will follow suit. Both firms have previously made waves with their Bitcoin ETF filings and could potentially explore XRP and other altcoins if the regulatory environment continues to evolve favorably. However, unresolved legal issues between Ripple and the SEC remain a hurdle that could influence the timeline for ETF approvals .
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Author:
Sachin Kumar
