Wisdomtree Files XRP ETF Proposal In Delaware Trust Move

(MENAFN- The Arabian Post) WisdomTree, a leading asset manager overseeing $113 billion in investments, has filed to establish a Delaware-based trust for a proposed XRP exchange-traded fund (ETF). The move is considered a pivotal step toward offering investment products centered on XRP, one of the largest cryptocurrencies by market capitalization. The trust filing, listed with the Delaware Division of Corporations, lays the groundwork for a full application to the U.S. Securities and Exchange Commission (SEC). The initiative follows heightened interest among asset managers to diversify crypto-related ETFs beyond Bitcoin and Ethereum. WisdomTree's proposed ETF aims to track XRP's market performance, further integrating cryptocurrency into mainstream investment portfolios. This filing aligns with broader industry trends as firms such as Bitwise and Canary Capital have initiated similar proposals for XRP ETFs. Bitwise's recent registration for a Solana ETF signals increasing diversification across the crypto ETF landscape, reflecting growing investor demand for altcoin-linked financial products. The legal and regulatory environment surrounding XRP remains a critical factor. Ripple Labs, the creator of XRP, concluded a prolonged legal dispute with the SEC earlier this year, with a U.S. judge determining that XRP was not inherently a security. However, SEC leadership changes, particularly the anticipated resignation of Chair Gary Gensler, could reshape regulatory perspectives on crypto assets. Analysts speculate that this evolving environment may enhance the approval prospects for XRP ETFs under a potentially more crypto-friendly SEC administration. As XRP solidifies its standing as the sixth-largest cryptocurrency by market value, WisdomTree's move could catalyze further institutional adoption. The firm has yet to disclose details about the fund's exchange listing or ticker symbol, leaving investors to anticipate further developments. This initiative underscores a strategic shift among asset managers seeking to capitalize on emerging trends in the digital asset space, expanding beyond traditional cryptocurrency giants.">

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