21Shares Files to Launch an XRP ETF

Reading Time: < 1 minute

21Shares has submitted a request to the US Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) based on XRP.

Known as the 21Shares Core XRP Trust, the ETF would allow investors to purchase shares in the fund that track the price of XRP without having to directly hold the digital currency themselves.

Similar to the ARK 21Shares Bitcoin ETF, which provides access to Bitcoin for investors, the XRP ETF would offer US investors exposure to XRP.

This comes after Bitwise also filed for an XRP ETF last month. According to Bitwise CEO Hunter Horsley, his company believes that blockchain technology will bring about new monetary assets and applications in a neutral and decentralized manner.