CBOE BZX has taken a major step towards launching spot XRP ETFs by submitting 19b-4 filings with the SEC.
Significance of 19b-4 Filings for XRP ETFs
A 19b-4 filing is an official request to change a rule with the SEC, allowing the proposal of new investment products like ETFs. In this case, the filings indicate the intent to offer XRP-based ETFs, which would track the cryptocurrency's price.
The Asset Managers Involved
The 19b-4 filings involve four asset managers: Bitwise, 21Shares, Canary Capital, and WisdomTree. Each had previously submitted an S-1 filing, the initial step in ETF registration.
The SEC’s Changing Approach
The SEC has traditionally been cautious in approving crypto ETFs. However, changes in the SEC's leadership signal a potential shift in direction.
While the filings are a positive indication, approval is not guaranteed. The SEC's decision will be crucial for the future of XRP and the broader crypto industry.
