XRP ETF Filing Accepted by SEC

SEC Begins Review of Bitwise’s Spot XRP ETF Filing

• The SEC has acknowledged Bitwise’s filing for a spot XRP ETF.
• The review process by the SEC can last up to 90 days.
• The proposed ETF aims to provide regulated access to XRP, designed for cross-border payments.
• XRP is distinguished from Bitcoin and Ethereum, which are viewed as stores of value.
• A court decision stated Ripple’s sales of XRP were not securities transactions.

The SEC has started a formal review of Bitwise’s spot XRP ETF proposal, which could offer investors regulated access to XRP within a 90-day period. This follows a court ruling that Ripple’s sales of XRP were not considered securities transactions.