WisdomTree Submits XRP ETF Filing in Delaware
WisdomTree Funds, a New York-based asset management firm, recently made a big move by registering for an XRP exchange-traded fund (ETP) in the state of Delaware. This indicates their intention to file with the US Securities and Exchange Commission (SEC) in the near future. They’ve joined other early applicants like Bitwise, Canary Capital, and 21Shares in the race for an XRP ETF, but as of now, no applications have been approved by the SEC.
The timing of WisdomTree’s filing is crucial for XRP. Ripple, the company behind XRP, won a significant legal battle when a judge ruled that XRP was not a security back in July 2023. However, the SEC filed an official appeal on October 2, 2024, and was granted a delay until January 15, 2025, to submit their opening brief.
With the recent US presidential election resulting in Donald Trump’s victory, there’s buzz about potential changes in cryptocurrency regulation under his administration. Trump has promised to position the US as a leader in Bitcoin, crypto, and blockchain, criticizing the current government’s approach under President Biden and SEC chief Gary Gensler.
As the transition to a new presidential term takes place, we might see a shift in regulatory enforcement, suggesting that the longstanding legal battles against companies like Ripple could be reconsidered. This could pave the way for an XRP ETF sooner than expected, exciting news for the cryptocurrency community.
