WisdomTree Files Application to Launch an XRP ETF

Reading Time: < 1 minute

WisdomTree, an asset management company based in New York, has filed a registration statement for an XRP ETF in Delaware. This initial step indicates that the firm will soon file for the product with the US Securities and Exchange Commission (SEC).

The news was first reported by Fox Business journalist Eleanor Terrett, who shared the update on Twitter. The registration for the XRP ETF, called the “WisdomTree XRP Fund,” was submitted on November 25.

The company has a strong presence in the global ETF market and manages $100 billion in assets. Terrett confirmed that the filing is legitimate, establishing WisdomTree as one of the key players in the race for an XRP ETF in the US.

Other firms have also made strides towards an XRP ETF, with the 21Shares XRP Fund being among the most recent to file with the SEC. While the initial filing in Delaware has been made, WisdomTree will eventually need to file an S-1 registration, as Terrett noted.

The interest in XRP ETFs has grown in anticipation of better regulatory conditions in the US following the presidential elections. This has encouraged asset management companies to pursue crypto ETF products.