21Shares Aims to Launch First XRP ETF Amidst Legal Uncertainty
- 21Shares has filed an S-1 application to list its Core XRP Trust on the Cboe BZX Exchange, with Coinbase as custodian.
- The Trust seeks to mirror the CME CF Ripple-Dollar Reference Rate without directly holding XRP.
- Despite the SEC’s ongoing legal battle with Ripple, 21Shares is optimistic, following successful Bitcoin and Ethereum ETF launches.
21Shares’ move highlights a growing institutional appetite for diversified crypto investments. The firm’s past success with spot Bitcoin and Ethereum ETFs, which have attracted significant capital, underscores the potential demand for an XRP ETF, despite regulatory hurdles.
The pursuit of an XRP ETF by multiple asset managers suggests a shift towards broader acceptance of crypto assets. If approved, it could pave the way for increased institutional participation in the XRP market, further integrating cryptocurrencies into mainstream investment portfolios.
