On November 25, the American company WisdomTree filed an application in the state of Delaware for the launch of a cryptocurrency-based ETF in the USA, based on XRP ($XRP ).
The firm's employees are asking the staff of the Securities and Exchange Commission (SEC) to approve the trading of shares of the WisdomTree XRP Fund, which will track the price of XRP. In addition to WisdomTree, organizations such as Bitwise, Canary Capital, and 21Shares also want to create an XRP-ETF and have already submitted applications to the SEC.
Officials are not in a hurry to approve the launch of the XRP-ETF because the long-standing legal battle between the coin issuer, Ripple, and the SEC is not yet over. The appeal filed by the regulator's representatives is scheduled to be considered on January 15, 2025, so it is unlikely that derivatives based on XRP will be created this year.
Since November 6, when it became known about Donald Trump's victory in the presidential elections, XRP has increased in price by more than three times. Last week, the coin's price reached its highest level since May 2021 at $1.63 on the Bitstamp exchange.
The surge in XRP's price after Trump's victory
The impressive bull rally is explained by the enthusiasm of investors due to the potential easing of regulatory measures in the digital asset industry in the USA.
