WisdomTree files for an XRP ETF in Delaware, signaling growing confidence in cryptocurrency investments amid rising market optimism.
In XRP latest news, New York-based asset management giant WisdomTree, which oversees $113 billion in assets, has filed for an XRP Exchange-Traded Fund (ETF) in Delaware.
This preliminary filing marks the first step toward seeking approval from the U.S. Securities and Exchange Commission (SEC) as the firm expands its presence in the growing crypto market.
XRP ETF Landscape and Regulatory Context
WisdomTree joins major firms like Bitwise, Canary Capital, 21Shares, and Grayscale, all vying for XRP ETF approval.
Despite these applications, the SEC has yet to approve any XRP ETFs. This delay comes against the backdrop of Ripple’s partial legal victory in July 2023, where a federal judge ruled that XRP was not a security in retail sales.
However, the SEC filed an appeal on October 2, 2024, with decisions now expected in 2025.
Analysts anticipate a friendlier regulatory environment following Donald Trump’s 2024 presidential victory and the impending departure of SEC Chair Gary Gensler in January 2025.
Trump’s administration has pledged to foster crypto and blockchain innovation, potentially paving the way for XRP ETF approvals and other crypto-friendly policies.
WisdomTree’s Global Crypto Strategy
WisdomTree already operates XRP and Ethereum Exchange-Traded Products (ETPs) in Europe, offering spot price exposure. With its Delaware filing, the firm aims to replicate this success in the U.S.
Deaton on XRP
A Symbol of Resilience and Growth Amid ETF Momentum Renowned attorney John Deaton, a staunch advocate for XRP, recently lauded XRP endurance, stating, “Hate it or love it, XRP is the most resilient crypto asset around.”
Hate it or love it, XRP is the most resilient Crypto asset around. https://t.co/KWfbYUJku8
— John E Deaton (@JohnEDeaton1) November 25, 2024
This comment comes as XRP continues to gain momentum in the wake of significant developments, including its potential entry into the ETF space. With asset management giants like WisdomTree filing for an XRP Exchange-Traded Fund (ETF) in Delaware, XRP’s resilience is once again in the spotlight.
Despite regulatory challenges, including its ongoing legal battle with the SEC, XRP has not only survived but thrived, maintaining its relevance in the ever-competitive crypto landscape. Deaton’s remark underscores XRP’s growing institutional acceptance, especially as the ETF filings signal a new wave of optimism and potential for mainstream adoption.
XRP’s resilience, paired with increasing market opportunities, solidifies its role as a pivotal player in the blockchain-based financial ecosystem.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
