WisdomTree Files XRP Spot ETF S-1 with SEC Approval

 
Niharika Deshpande
Written By 
Niharika Deshpande
December 2, 2024

According to Fox Journalist, Eleanor Terret, WisdomTree, the global ETF provider has officially filed for an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for an XRP spot ETF. The proposed WisdomTree XRP Fund aims to track the daily price of the token.

WisdomTree Officially Files for XRP ETF with SEC (Source: X Post)

WisdomTree recent had filed for the ETF application in Delaware. The Delaware filing and the S-1 registration filing with the SEC are two different steps in the process of launching an ETF. The Delaware filing is a state-level registration whereas, the S-1 registration is a federal filing with the SEC, which is more rigorous process.

The purpose of this S-1 registration provides more detailed information about the ETF, including its investment strategy, risks, and fees. This filing is subject to review and approval by the SEC, which may take several months or years.

WidsomTree’s filing follows application from other similar firms such as 21Shares and Canary Funds. This move by WisdomTree indicates the growing institutional interest in Ripple’s native token. If approved, the ETF will provide a regulated pathway for the investors to gain exposure to the token without holding the asset directly.

Institutional Push for XRP ETFs

The ETF filing surge also indicates the increasing demand for XRP-based investment products. Analysts believe that the introduction of the spot ETF will significantly increase liquidity and adoption within the crypto community and pump the price of the token. this development can also push the price of the token to a new all-time high.

With the surge that Ripple’s native token has experienced in the last 48 hours, increased investor interest was eminent. Alleged launched of the Ripple stablecoin RLUSD on December 4th, and optimism around the SEC lawsuit has led to this surge. For the month of November, the token has seen a surge of an impressive 356.7% as per CoinGecko.

At press time, the price of Ripple’s native token stands at $2.39 with a surge of 24.7% in the last 24-hours.

XRP 24 Hours Chart (Source: CoinGecko)

Also Read: Ripple XRP Future Open Interest Hits ATH with $3.91B; XRP $3 soon?

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Niharika Deshpande
Written by Niharika Deshpande

Niharika has over two years of experience as a crypto-journalist and is part of the team at CryptoNewsZ. Although she holds a Master’s in Biochemistry, she has a knack for simplifying complex blockchain concepts. With a keen eye for industry trends, she delivers breaking stories and insightful analyses of the crypto world. Her articles serve as a go-to resource for those navigating crypto gambling, offering clear and well-researched insights. She also covers the latest crypto pre-sales and emerging token launches, helping investors stay informed. ionate about the evolving blockchain space, she continues to explore its impact on various sectors. Beyond journalism, she actively engages with the crypto community, fostering discussions on decentralized innovations.