The U.S. Securities and Exchange Commission (SEC) has completed the public comment phase for WisdomTree's proposed XRP ETF and initiated further review. This highlights regulatory scrutiny surrounding cryptocurrency investments.
SEC's Review of XRP ETF
The SEC is advancing with the review of WisdomTree's XRP ETF, having concluded the public comment phase. The agency is now entering a further review process that may take up to 240 days. This continuation reflects the regulatory body's diligence in evaluating potential market implications of crypto-based ETFs, considering XRP's previous legal challenges.
XRP Market Metrics
According to CoinMarketCap, XRP is priced at $2.31 with a market cap of $135.33 billion, representing 3.94% of the overall market. The asset has shown recent fluctuations, including a 0.79% increase over 24 hours, a 3.23% decrease over 7 days, and a 7.16% rise over 60 days.
Future of Crypto ETFs
Market observers are closely watching the SEC's decisions, as they could set important precedents for the broader crypto ETF landscape. Industry experts express measured optimism regarding potential favorable regulatory shifts. Emily Clarke, Head of Research at Digital Asset Management, noted that 'the new SEC leadership appears to be embracing a more favorable regulatory stance, which could significantly affect ETF approvals in the crypto space.'
The review of WisdomTree's XRP ETF indicates ongoing active regulation of the cryptocurrency market in the U.S. The anticipated decisions by the SEC may have a substantial impact on the future investment appeal of cryptocurrencies.
