Asset managers seeking XRP exchange-traded funds (ETFs) are making progress with their applications, bringing the products a step closer to actualization.
On Thursday, Cboe BZX Exchange officially filed the crucial 19b-4 forms with the SEC on behalf of Bitwise Investments, Canary Capital, WisdomTree, and 21Shares, seeking approval for their proposed XRP ETFs.
This filing marks the next stage in the regulatory process following the initial S-1 filings by the issuers.
Details about the 19b-4 forms for XRP ETFs
Notably, the 19b-4 forms are essential in requesting permission from the U.S. SEC to list and trade the XRP ETFs on the Cboe BZX Exchange.
This move follows an earlier indication from FOX Business News correspondent Eleanor Terrett, who disclosed that there would be more developments regarding pending XRP ETF applications this week. Indeed, her prediction is unfolding as expected, with the latest Form 19b-4 for XRP ETFs.
In her comments on the latest update, Terrett noted that the submission of these forms does not guarantee approval. Specifically, once the SEC acknowledges receipt of these filings, it will have a 240-day window to either approve or deny the ETFs.
This filing follows the SEC’s recent acknowledgment of similar filings for Litecoin (LTC) ETFs from Canary Funds and Grayscale. This has led to speculation that the regulatory body may also respond soon to the XRP filings.
Ripple CEO Reacts, Says Time is Ticking
The latest update concerning XRP ETFs has sparked positive commentary from members of the XRP community, including Ripple CEO Brad Garlinghouse, who took to X to acknowledge the move. His reaction suggests the countdown for XRP ETF launch has begun.
— Brad Garlinghouse (@bgarlinghouse) February 6, 2025
Other prominent voices, like Digital Asset Investor, used the moment to remind the broader crypto community not to overlook XRP or miss out on its promising potential.
“Your grandkids’ grandkids will be talking about how you saw where XRP was going when everyone said you were crazy,” he said.
Notably, the outcome of this filing could have significant implications for the future of XRP. In particular, the approval of an XRP ETF would provide traditional investors with easier access to the cryptocurrency.