Originally published on: November 25, 2024
WisdomTree Funds, a leading assets management firm based in New York, has recently made a significant move by registering for an XRP (XRP) exchange-traded fund (ETF) in the state of Delaware on Nov. 25. This step indicates the company’s intention to submit the necessary filings with the United States Securities and Exchange Commission.
Among the early XRP ETF applicants in the US, WisdomTree joins the likes of Bitwise, Canary Capital, and 21Shares. Despite these filings, as of now, none of the applications have received approval from the SEC.
The latest filing by WisdomTree comes at a crucial time for XRP, as Ripple, the company behind the cryptocurrency, recently secured a partial victory in a legal battle against the SEC. A judge ruled in July 2023 that XRP does not qualify as a security, marking a positive development for the cryptocurrency.
Following the SEC’s official appeal on Oct. 2, 2024, and a subsequent request for a delay in proceedings, XRP’s future remains uncertain. However, with the recent US presidential election resulting in Donald Trump’s victory, there could be significant changes in cryptocurrency regulation under the new administration.
Trump’s campaign promises to establish the US as a leader in Bitcoin, crypto, and blockchain technologies suggest a shift in regulatory approach. With the potential for conservative appointees to key financial positions and a different perspective on cryptocurrency suits, including those involving Ripple, an XRP ETF could be on the horizon sooner than expected.
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