Officially, 4 companies have already requested permission to launch their XRP ETFs.
Last week the company registered its XRP ETF in the state of Delaware.
WisdomTree requested official authorization to launch an ETF based on XRP, Ripple’s cryptocurrency. The company filed an S-1 document with the US Securities and Exchange Commission (SEC), a necessary step to issue and trade its financial product.
This motion joins previous requests from Bitwise, 21Shares and Canary Funds, companies also looking to launch their own XRP ETFs.
Last week, CriptoNoticias reported that WisdomTree registered its XRP ETF in the state of Delaware, a first step towards formalizing the application with the US SEC.
WisdomTree’s formal request coincides with the notable rise of XRP, which has traded above $2 in recent days, an increase of more than 200% in one month.
At the moment, XRP is more valuable than USDT and it is ranked third among the best-priced cryptocurrencies on the market, as this media reported earlier.
Since Sunday, December 1, XRP is up 26.9%, currently trading at $2.43. XRP is approaching its all-time high of $3.3, with a 73.6% gap separating it from its All-Time High (ATH).
Several factors are driving this rise: the election of Donald Trump in the US, the end of the litigation between the SEC and Ripple, institutional investment and the drag effect of bitcoin, the largest digital currency in the world.
Applications to launch an XRP ETF in the US could be approved as long as Trump keeps his promise of friendlier regulation and less restrictive for the cryptocurrency sector. This is anticipated with the announced departure of Gary Gensler from the SEC and the possible arrival of a new president of the commission more open to the bitcoin ecosystem.
Interest in cryptocurrency ETFs has grown, reflecting growing acceptance and confidence in these investments. If the SEC approves these ETFs, it could mark an important milestone for the integration of cryptocurrencies into the traditional financial system, making it easier for institutional and retail investors to access digital assets like XRP without the need to directly own the cryptoasset.
This article was created using artificial intelligence and edited by a human Editor.
