WisdomTree registers for a spot XRP ETF in Delaware, marking a major step in expanding U.S. crypto investment opportunities.
XRP ETFs face SEC delays, with clarity expected in 2025 amid Ripple's partial legal win and ongoing regulatory challenges.
Optimism grows as SEC Chair Gensler retires and Trump’s pro-crypto stance raises hopes for favorable U.S. crypto regulations.
Global asset manager WisdomTree, overseeing assets worth over $113 billion, has filed for a spot XRP exchange-traded fund (ETF) in Delaware. This move was confirmed by Fox Business reporter Eleanor Terrett. WisdomTree's move signals a notable step toward introducing an XRP ETF in the U.S., following its success with similar products in Europe.
https://twitter.com/EleanorTerrett/status/1861081346774310943
WisdomTree Joins Key Players in Pursuit of XRP ETF
With the Delaware filing, WisdomTree joins firms such as Bitwise, 21Shares, Canary Capital, and Grayscale in seeking to launch an XRP ETF. Notably, WisdomTree already operates the WisdomTree Physical XRP ETP (XRPW) in Europe, offering investors direct exposure to XRP's spot price. Analysts believe the company may soon submit an S-1 application to the U.S. Securities and Exchange Commission (SEC).
Despite growing interest, the SEC has yet to approve any XRP ETFs, maintaining a cautious approach. This comes after Ripple's partial legal victory in July 2023, where a federal judge ruled that XRP was not a security in retail sales. However, the SEC's ongoing appeal, filed in October 2024, has delayed further clarity on the matter, with decisions now anticipated in 2025.
Changing Regulatory Landscape Fuels Optimism
The increased momentum around XRP ETFs coincides with changes in the U.S. regulatory sector. With SEC Chair Gary Gensler set to retire in January 2025, investors are hopeful for a more favorable regulatory environment. This optimism also aligns with the potential return of Donald Trump as U.S. president, given his campaign promises to promote positive cryptocurrency regulations.
Meanwhile, Ripple's Chief Legal Officer, Stuart Alderoty, has criticized the SEC's enforcement tactics, emphasizing systemic issues in its oversight. His remarks followed the SEC's announcement of a record $8.2 billion in financial penalties during fiscal year 2024.
Renowned attorney John Deaton lauded XRP's resilience amid regulatory challenges, underscoring its enduring relevance. WisdomTree's latest filing reflects growing institutional confidence in XRP, potentially paving the way for mainstream adoption in the U.S.
