WisdomTree has attracted the attention of investors regarding its XRP ETF fund with its latest S-1 filing with the US Securities and Exchange Commission (SEC) today. In particular, XRP’s recent market cap surpassing Solana and USDT stands out as an important development. XRP’s$XRP
While a strong rally has attracted attention, the application has started to attract more attention especially after Donald Trump's election victory. This situation also increases market confidence in crypto assets and the regulatory structure.
WisdomTree has created an optimistic atmosphere in the crypto industry with its S-1 filing for a Delaware-registered XRP ETF. The filing comes after a remarkable rally that underscores XRP’s growing importance in the market. Investors see the ETF as a significant milestone for wider institutional adoption. Additionally, WisdomTree’s filing comes after other major crypto players like Bitwise, 21Shares, and Canary Capital filed similar filings with the SEC.
XRP’s momentum comes as part of a larger crypto resurgence following Donald Trump’s election victory. Market participants believe that crypto-friendly policies under the Trump administration will accelerate ETF approval processes. Experts predict that a Republican government could create a favorable environment for altcoin ETF launches in the US. Ripple CEO Brad Garlinghouse expressed optimism about XRP’s growth potential, stating that ongoing talks with the Republican administration will boost market confidence.
SEC Chairman Gary Gensler announced in January that he would be stepping down from his position, which makes the timing notable. Gensler’s departure has been widely anticipated in the crypto community, as he is seen as an anti-crypto regulator. Some analysts believe that Gensler’s successor could move the industry forward by supporting pro-crypto reforms. A Coinbase executive also noted that crypto legislation could “rapidly” pass under the Trump administration, potentially boosting institutional crypto adoption.
After WisdomTree’s XRP ETF application, the XRP price rose by 22% to $2.34, drawing attention as part of a major rally. The latest rally has seen XRP’s market cap increase, surpassing Solana and USDT. The trading volume of Ripple’s native cryptocurrency increased by 206% to $34.93 billion. XRP has risen to $2.49 in the past 24 hours, with a low of $1.89.
XRP futures open interest increased by 17% to $3.91 billion. Ripple whales are in a massive buying movement amid the latest developments in the market. Santiment highlighted that XRP reached its highest level since January 8, 2018. The platform noted that large XRP holders (wallets between 1 million and 10 million coins) accumulated 679.1 million tokens worth approximately $1.66 billion in just three weeks. In addition, the number of XRP wallets exceeded 5.5 million for the first time in the coin’s more than 8-year history.