In this article. 21Shares intends to list its trust on the Cboe BZX exchange, with Coinbase Custody Trust Company acting as custodian if approved.
#Ripple CEO Garlinghouse believes the launch of the #XRP trust is imminent.
The 21Shares Solana #ETF Spot Trust has not yet been approved or rejected, and its application is still in the EDGAR database.
November 1, 21Shares filed a Form S-1 registration statement for the XRP ETF Spot with the Securities and Exchange Commission. If the regulator approves the application, the company will create the 21Shares Core XRP Trust, which will be listed on the Cboe BZX exchange, with Coinbase Custody Trust Company as its custodian.
21Shares has filed a registration form with the U. S. regulator to create the XRP Trust, joining a number of companies hoping for approval to fill it, including Canary Capital and Bitwise.
a spokesperson for the company commented on the XRP Trust application:
21Shares remains committed to expanding access to the cryptocurrency asset class for U. S. investors and hopes to promote innovation in the U. S.
the 21Shares application was filed while Ripple was still in a legal battle with the SEC. Their legal fight began after regulators said the company raised more than $1.3 billion through illegal sales of XRP and deemed it an unregistered security. About a year ago, Judge Annalisa Torres of the U. S. District Court for the Southern District of New York ruled in favor of Ripple, ruling that program sales of XRP were legal and did not violate securities laws. However, the direct sales to institutional investors were classified as securities, and in August it awarded Ripple a civil penalty of $125 million.
Both sides are now appealing part of the decision, although Ripple CEO Brad Garlinghouse said the commission was unreasonable and should have dismissed the case long ago. In addition, Mr. Garlinghouse has publicly stated that the creation of an ETF for XRP is inevitable.
The management company has received approval from the U. S.
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