On February 6, 2025, the Cboe BZX exchange submitted applications for the creation of XRP-based ETFs for four asset managers. This move could expand the spectrum of crypto-related financial products in the US.
XRP ETF Filings: What's Happening?
Companies such as Canary Capital, WisdomTree, 21Shares, and Bitwise have submitted applications for creating ETFs. This event marks a significant milestone in the development of crypto-financial products in the US market.
Growing Interest in Crypto ETFs
Last week, on January 28, 2025, Cboe BZX resubmitted applications for Solana ETFs. This reflects an increase in the number of crypto-ETF proposals, signaling a growing interest from asset managers in these innovative financial products.
Shaping the Future of Investment
Spot ETFs allow investors to gain direct exposure to the price of underlying assets like XRP, without direct ownership of the crypto. This can simplify market access and reduce risk for investors through the regulated structure of traditional stock markets.
Approval of these ETFs by the SEC could pave the way for broader adoption of cryptocurrencies by investors. However, the regulatory process is rigorous, and the outcome of these applications remains uncertain.
