Key Steps Toward Launching XRP Spot ETFs: CBOE BZX Filings

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by Giorgi Kostiuk

2 years ago

CBOE BZX Exchange has filed 19b-4 documents with the SEC, which could pave the way for launching the first XRP-based spot ETFs in the US.

What is a 19b-4 Filing?

A 19b-4 filing is an official request to change a rule with the SEC, allowing companies to propose new investment products such as ETFs. These filings indicate asset managers' intent to offer XRP-based ETFs.

The Four Asset Managers Involved

The filings are submitted by four major asset management firms: Bitwise, 21Shares, Canary Capital, and WisdomTree. Each of these companies had already submitted S-1 filings, the initial step in the ETF registration process, before the 19b-4 filings.

The SEC’s Changing Approach

Historically cautious about crypto ETFs, the SEC may be shifting its stance due to new leadership appointments, which could impact not just XRP but the broader crypto space, opening the doors to new ETF products.

While the 19b-4 filings are a positive sign, approval is not guaranteed. The SEC's decision will be crucial for both the future of XRP and the broader cryptocurrency market.

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