Originally published on: November 25, 2024
WisdomTree Funds, a leading asset management firm based in New York, made a significant move by registering for an XRP exchange-traded fund (ETF) in the state of Delaware on Nov. 25. This signals the company’s intent to seek approval from the United States Securities and Exchange Commission (SEC) for the ETF.
Joining the ranks of Bitwise, Canary Capital, and 21Shares, WisdomTree is one of the early applicants for an XRP ETF in the US. However, it is important to note that as of now, no XRP ETF applications have been approved by the SEC.
This filing by WisdomTree comes at a crucial time for XRP, following a recent legal development. Ripple, the creator of the XRP cryptocurrency, secured a partial victory in a legal battle against the SEC when a judge ruled in July 2023 that XRP is not a security.
The SEC filed an official appeal on Oct. 2, 2024, and was granted an extension to submit the opening brief until Jan. 15, 2025. With the recent US presidential election resulting in Donald Trump’s victory, there is anticipation for potential changes in cryptocurrency regulation and oversight under the new administration.
Trump’s campaign promises to position the US as a global hub for Bitcoin, crypto, and blockchain, along with his criticism of current regulatory practices, raise expectations for a shift in policies. This could have implications for ongoing cryptocurrency lawsuits, including the one involving Ripple, and pave the way for developments like an XRP ETF sooner than anticipated.
As the regulatory landscape evolves, the future of XRP and cryptocurrency investments remains intriguing. Stay informed with the latest insights from Cointelegraph Research by subscribing to our newsletter for expert analysis delivered directly to your inbox. Don’t miss out on the latest trends and updates in the world of digital assets.
