21Shares has submitted a Form S-1 filing with the SEC for a spot XRP exchange-traded fund (ETF), marking its entry into the growing market for cryptocurrency ETFs. This filing, made on November 1, aims for the Core XRP Trust shares to be traded on the Cboe BZX Exchange. Unlike directly holding XRP, the trust intends to provide investors with indirect exposure to the market. Coinbase Custody Trust Company is designated as the custodian for the trust's XRP, pending approval. This application follows prior submissions by firms like Canary Capital and Bitwise. Previously, the SEC has approved spot Bitcoin and Ether ETFs in 2024, yet it has not responded to XRP ETF applications due to ongoing litigation involving Ripple Labs, which may complicate future approvals. The possibility of significant regulatory shifts is also present, as political experts suggest potential changes in SEC leadership could influence ETF decisions.

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