XRP ETF Race Begins with Filings

Spot XRP ETF Applications Submitted to SEC

• Four asset managers filed applications for spot XRP ETFs with the SEC.
• The companies involved are WisdomTree, Bitwise, 21Shares, and Canary.
• Cboe Exchange submitted four separate 19b-4 forms for these ETFs.
• The filings reference the July 2023 SEC-Ripple Labs ruling on XRP’s status.
• XRP lacks a futures market on the CME, unlike Bitcoin and Ethereum.

Four major asset managers have applied for spot XRP ETFs with the SEC, following a significant ruling in July 2023 that determined XRP is not a security. The applications emphasize alternative measures to meet SEC requirements due to the absence of an XRP futures market.