WisdomTree prepares to apply for an XRP ETF

WisdomTree is in the process of applying for an XRP ETF. The company has registered a trust fund in Delaware to expand its product portfolio, alongside existing ETFs such as Bitcoin and Ethereum. The XRP ETF product will help investors access XRP without needing to directly own the cryptocurrency. However, they have not yet submitted an official approval application to the U.S. Securities and Exchange Commission (SEC) and expect to file Form S-1 after completing the necessary procedures.

WisdomTree's interest is part of a growing trend among many other companies wanting to issue ETF for XRP, such as Bitwise, Canary, and 21Shares, despite the uncertain legal situation surrounding XRP due to the ongoing lawsuit between Ripple and the SEC. The approval of the XRP ETF will depend on the outcomes of legal disputes and how the SEC handles cryptocurrency assets in the future.