WisdomTree Files for a Spot XRP ETF with SEC

WisdomTree has submitted a registration statement with the SEC for a spot XRP exchange-traded fund (ETF). This move, along with similar filings by Bitwise, 21Shares, and Canary Capital, signals a growing interest from institutional investors in XRP as a potential investment opportunity.

With the end of Gary Gensler’s tenure as SEC chair approaching, the timing of these filings is significant. The proposed ETF would track the performance of XRP, and the Bank of New York Mellon would serve as the trust administrator.

This comes at a time when XRP has shown strong market performance, surpassing Tether’s USDT and becoming the third-largest digital asset by market capitalization. In the past week, XRP’s price has surged to $2.42, marking a 68% growth and pushing its market capitalization above $135 billion.

These ETF filings coincide with significant changes in the regulatory and political landscape, as President Donald Trump’s recent election victory suggests a possible shift towards more crypto-friendly policies under the new administration. Additionally, there are rumors of discussions between Ripple Labs, the company behind XRP, and the Republican administration.