XRP ETF Filing by WisdomTree Signals Massive $113B Opportunity
- WisdomTrees filing: Marks a significant step toward XRP ETF adoption in the U.S.
- Regulatory shifts: Trumps presidency and Genslers exit could boost crypto-friendly policies.
- XRPs resilience: Institutional interest highlights its role in the evolving crypto ecosystem.
New York-based asset manager WisdomTree, overseeing $113 billion in assets, has filed for an XRP Exchange-Traded Fund ( XRP ETF) in Delaware. This move underscores growing confidence in cryptocurrency investments as the market rides a wave of optimism.
WisdomTree joins industry heavyweights such as Bitwise, Canary Capital, 21Shares, and Grayscale in the race to launch an XRP ETF. Yet, the U.S. Securities and Exchange Commission (SEC) has not approved any XRP ETFs to date.
The regulatory hurdles stem from Ripples partial legal victory in July 2023, when a federal judge ruled that XRP is not a security in retail sales. However, the SECs appeal, filed on October 2, 2024, has delayed definitive outcomes, with decisions expected in 2025.
Analysts are optimistic that a regulatory shift is on the horizon. Donald Trumps 2024 presidential victory and the planned departure of SEC Chair Gary Gensler in January 2025 could create a more crypto-friendly environment. Trumps administration has signaled support for blockchain innovation, potentially accelerating XRP ETF approvals.
Wisdom Trees XRP ETF Filing
WisdomTrees filing aims to replicate the success of its European XRP and Ethereum Exchange-Traded Products (ETPs), which offer investors spot price exposure. A U.S.-based XRP ETF would mark a significant milestone for the firm and for the broader crypto market.
Attorney John Deaton, a vocal XRP advocate, highlighted the assets durability. Hate it or love it, the token is the most resilient crypto asset around, he said.
XRPs ability to weather regulatory scrutiny while maintaining its position as a top-ten cryptocurrency by market cap demonstrates its strength. With institutional players like WisdomTree pushing for ETF approvals, the tokens potential for mainstream adoption grows clearer.
XRP stands firm amid challenges, signaling that its journey toward broader adoption is far from over.
Read more: https://www.tronweekly.com/xrp-etf-filing-by-wisdomtree-113b-opportunity/
Text source: TronWeekly
