WisdomTree, a New York asset manager, has filed for an XRP exchange-traded fund (ETF) in Delaware, marking a significant step in the U.S. regulatory process for cryptocurrency products. This filing follows a recent surge in XRP's price, which rose to $1.60 per coin amid speculations surrounding potential changes within the SEC due to the upcoming departure of Chair Gary Gensler. XRP was created by Ripple and is utilized for cross-border money transfers. The SEC had previously filed a lawsuit against Ripple alleging the sale of unregistered securities, which has created a complex legal backdrop for XRP. However, the filing by WisdomTree indicates growing investor confidence in XRP as the cryptocurrency market trends upward. The SEC has previously approved Bitcoin and Ethereum ETFs, fueling optimism that XRP could follow suit. WisdomTree, which already holds approvals for an Ethereum ETF, is eager to expand its offerings in the crypto space alongside other companies looking to introduce more crypto products in the U.S.

Source 🔗