WisdomTree has filed for a spot XRP ETF registration with the SEC, marking another step in providing institutional investors access to cryptocurrencies without direct ownership.
WisdomTree's New Spot XRP ETF Application
WisdomTree filed a Form S-1 registration statement with the SEC for a spot XRP ETF. This move places the company among the growing list of firms attempting to bring XRP-based investment products to market, including Bitwise and Canary Capital.
Market Reaction Following the Application
Over the past few days, XRP has experienced significant value growth. In the last 24 hours, the altcoin has added nearly 25% in value, reaching $2.37, making it one of the most appealing large-market-cap cryptocurrencies.
The Future of the Spot XRP ETF
If approved, the ETF will track the value of XRP, providing institutional investors indirect exposure to the cryptocurrency, which is part of an ongoing trend of enhancing traditional investments in the crypto space.
Approval of WisdomTree's application may spur further interest in XRP and expand opportunities for institutional investors in the cryptocurrency market.
