Next Step Towards Approval: Spot XRP ETF Now Under Official SEC Review as XRP Momentum Builds
The post Next Step Towards Approval: Spot XRP ETF Now Under Official SEC Review as XRP Momentum Builds appeared on BitcoinEthereumNews.com. The U.S. Securities and Exchange Commission (SEC) has officially initiated its review of the WisdomTree XRP Trust, a proposed spot ETF designed to provide investors with direct exposure to XRP. If approved, the fund would become the first U.S.-based spot XRP ETF, potentially paving the way for similar crypto investment vehicles. SEC launches 240-day review period for WisdomTree’s spot XRP ETF The SEC published its notice on May 27, kicking off a 21-day public comment period and a 240-day review process. This period will allow stakeholders to provide feedback on whether the ETF adequately addresses concerns such as investor protection and the risks of market manipulation. Filed by the Cboe BZX Exchange, the WisdomTree XRP Trust aims to track the market price of XRP through the CME CF Ripple-Dollar Reference Rate. This structure offers investors the ability to gain exposure to XRP via traditional brokerage accounts, avoiding the complexities of self-custody and private keys. The proposal is already generating significant interest. Betting odds on Polymarket currently place the likelihood of SEC approval by the end of 2025 at 83%, up from 68% a month earlier. Image source: Polymarket. Bloomberg ETF analysts have also expressed optimism, pegging the approval chance at 85% following the leadership changes at the SEC under the Trump administration. Ripple pushes back on securities classification Ripple’s Chief Legal Officer Stuart Alderoty recently submitted a letter to the SEC’s Crypto Task Force, reiterating the company’s stance that XRP should not be classified as a security. The letter responds to a query raised in Commissioner Hester Peirce’s “New Paradigm” speech and emphasizes the need for clearer regulatory definitions. “Rules must be clear not just for issuers, but for all market participants who could be unwittingly classified as securities exchanges, brokers, dealers, or issuers,” Alderoty wrote, warning against the use…
The post Next Step Towards Approval: Spot XRP ETF Now Under Official SEC Review as XRP Momentum Builds appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission (SEC) has officially initiated its review of the WisdomTree XRP Trust, a proposed spot ETF designed to provide investors with direct exposure to XRP. If approved, the fund would become the first U.S.-based spot XRP ETF, potentially paving the way for similar crypto investment vehicles. SEC launches 240-day review period for WisdomTree’s spot XRP ETF The SEC published its notice on May 27, kicking off a 21-day public comment period and a 240-day review process. This period will allow stakeholders to provide feedback on whether the ETF adequately addresses concerns such as investor protection and the risks of market manipulation. Filed by the Cboe BZX Exchange, the WisdomTree XRP Trust aims to track the market price of XRP through the CME CF Ripple-Dollar Reference Rate. This structure offers investors the ability to gain exposure to XRP via traditional brokerage accounts, avoiding the complexities of self-custody and private keys. The proposal is already generating significant interest. Betting odds on Polymarket currently place the likelihood of SEC approval by the end of 2025 at 83%, up from 68% a month earlier. Image source: Polymarket. Bloomberg ETF analysts have also expressed optimism, pegging the approval chance at 85% following the leadership changes at the SEC under the Trump administration. Ripple pushes back on securities classification Ripple’s Chief Legal Officer Stuart Alderoty recently submitted a letter to the SEC’s Crypto Task Force, reiterating the company’s stance that XRP should not be classified as a security. The letter responds to a query raised in Commissioner Hester Peirce’s “New Paradigm” speech and emphasizes the need for clearer regulatory definitions. “Rules must be clear not just for issuers, but for all market participants who could be unwittingly classified as securities exchanges, brokers, dealers, or issuers,” Alderoty wrote, warning against the use…
What's Your Reaction?
