The crypto market may soon witness the emergence of a major new investment product: the XRP ETF. WisdomTree, Bitwise, and Canary Capital have filed applications to launch this ETF while Ripple's token experiences significant growth.
The Race for Crypto ETFs Intensifies
WisdomTree, one of the asset management giants, has joined the race to create an XRP ETF alongside Bitwise and Canary Capital. The Bank of New York Mellon has been designated as the trustee for the proposed trust, lending additional institutional credibility to the project. This initiative follows the successful launch of Bitcoin ETFs in January 2024, which have become one of the fastest-growing financial products in history. The timing of these applications is significant, as XRP recently regained its position as the third-largest cryptocurrency by market capitalization, behind Bitcoin and Ether. The market is already speculating on the potential impact of an XRP ETF, based on the example of Bitcoin ETFs that have helped drive up the price considerably.
Regulatory Context Begins to Clear Up
The announcement of Gary Gensler's departure as SEC chairman in January 2025 sparked an immediate 36% increase in XRP's price. This change in leadership at the U.S. regulator gives hope for a positive resolution to the years-long legal dispute between Ripple and the SEC. Arthur Azizov, CEO of B2BinPay, emphasizes that 'the XRP has gone through an accumulation phase for nearly three years', and this long period of consolidation could signal substantial growth. The expected appointment of a new SEC chairman by Donald Trump, who has close ties to the crypto industry through his NFT projects and World Liberty Financial platform, might accelerate this positive momentum.
The change in SEC leadership and the ETF applications could act as catalysts for a possible Ripple IPO, marking a significant milestone in the maturation of the crypto sector.
