WisdomTree files application for XRP ETF in the state of Delaware, USA

Asset management company WisdomTree has filed for an exchange-traded fund (ETF) license for XRP in the state of Delaware, USA, on November 25. This is part of a broader intention to file with the U.S. Securities and Exchange Commission (SEC). WisdomTree joins companies like Bitwise, Canary Capital, and 21Shares as the early contenders in the race for XRP ETF approval in the U.S. However, so far, no applications have been approved by the SEC.

This moment is also very significant for XRP, especially as Ripple, the company behind XRP, has achieved a partial victory in its legal battle with the SEC, with a ruling that XRP should not be considered a security in July 2023. The SEC subsequently appealed this ruling and requested to postpone oral arguments until January 2025. If the administration of elected president Donald Trump adopts a softer approach to cryptocurrency regulation, this could support the likelihood of XRP ETF approval in the near future.