The lawyer advocating for XRP, John Deaton, called XRP from the company Ripple the most resilient digital asset, as on November 25, 2024, WisdomTree Funds, a leading New York asset manager, filed an application to create an exchange-traded fund (ETF) for XRP in Delaware.$IMX $OP

The WisdomTree application is just the beginning on the path to launching the XRP ETF, and further steps, including filing an S-1 application with the SEC, are yet to be completed. Fox Business journalist Eleanor Terrett confirmed the filing after reaching out to the asset manager.

With this application, WisdomTree became the fourth firm to apply for an XRP ETF, following Bitwise, Canary Capital, and 21Shares. This reflects the growing institutional interest in XRP from Ripple. Ripple's CEO Brad Garlinghouse called the demand for an XRP ETF "inevitable."

Bitwise led the ETF race with its first application, while Grayscale launched the XRP Trust with plans to convert it into an ETF.