WisdomTree Files Application to Launch XRP-ETF in the US
Date: 2024-11-27 Author: Gabriel Deangelo Categories: BUSINESS
In the application filed in the state of Delaware, WisdomTree requests permission to trade shares of the WisdomTree XRP Fund. Similar initiatives have already been put forward by Bitwise, Canary Capital, and 21Shares, which have also applied to the SEC. However, the regulator has so far refrained from granting permission, given the ongoing lawsuit between Ripple, the issuer of XRP, and the SEC itself. The regulator's appeal hearing is scheduled for January 15, 2025, which makes the launch of the XRP-ETF in 2024 unlikely.
Since the beginning of November, XRP has shown significant growth, tripling its value after the news of Donald Trump's victory in the presidential election. On the Bitstamp exchange, the coin's price reached $1.63, which was its highest since May 2021.
Experts attribute this bullish trend to investors' expectations that the Trump administration will soften regulation of the crypto industry. The departure of SEC Chairman Gary Gensler, known for his tough stance against cryptocurrencies, also added confidence to market participants in the prospect of a more lenient approach to digital assets in the United States.
