Trump And Harris Suggest Reg Reforms


Crypto asset management 21Shares submitted an S-1 registration form for a spot XRP ETF with the SEC on Friday to create the 21Shares Core XRP Trust.

This submission follows similar proposals from Canary Capital and Bitwise in recent months as interest in crypto ETFs rises, especially after Bitcoin and Ethereum ETFs were approved earlier this year.

21Shares Files XRP ETF Due to Demand

The filing shows high demand for alternative crypto assets, especially as Bitcoin and Ethereum ETFs gain popularity. However, XRP ETF clearance is doubtful.

The SEC has been actively monitoring the crypto industry, notably its legal dispute with Ripple Labs, which affects XRP's categorization.

The SEC claims that XRP is a security under the Howey Test, which determines investment contracts.

This legal uncertainty makes it difficult for asset managers to approve the three XRP ETF proposals.

Trump And Harris Suggest Reg Reforms

Some industry heavyweights, like as Ripple Labs CEO Brad Garlinghouse, believe an XRP ETF in the US is “inevitable,” but the SEC's response to these new applications is unknown.

The forthcoming US presidential election complicates matters. Donald Trump and Kamala Harris have indicated their desire to alter cryptocurrency regulation, which might improve crypto asset conditions.

If finalized, such revisions might open the door for the new XRP ETF filings and other newly submitted forms, like Solana and Litecoin.

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