Bitwise Files for XRP ETF Trust in Delaware Amid SEC Uncertainties
- Bitwise has filed for an XRP exchange-traded fund (ETF) with Delaware’s Division of Corporations.
- This follows Grayscale’s similar move, introducing an XRP trust earlier this month.
- Ripple Labs recently settled a four-year dispute with the SEC, paying $125 million in fines.
- Approval of the XRP ETF faces challenges, including potential political influence and SEC’s stance on crypto assets.
One standout aspect is that District Judge Analisa Torres ruled XRP offerings to retail investors were not considered the selling of unregistered securities, which could influence future regulatory decisions.
The filing by Bitwise indicates growing interest in diversifying crypto ETFs beyond Bitcoin and Ethereum. However, regulatory hurdles remain significant under the current SEC leadership, leaving the outcome uncertain but highly anticipated.
