(Fox Business) reporter Eleanor Terrett revealed that the ETF management company 'WisdomTree' is preparing to launch a 'spot XRP ETF'.
A screenshot shared by Eleanor Terrett shows that WisdomTree, which manages assets of over $113 billion, registered a trust entity named 'WISDOMTREE XRP FUND' with the Delaware Division of Corporations on Monday, with CSC Delaware Trust Company listed as the registered agent.
NEW: Global ETF provider @WisdomTreeFunds has registered in the state of Delaware for an $XRP ETF. I have confirmed with the company this is a legitimate filing.
Wisdom Tree has over $100 billion in assets under management. pic.twitter.com/BXutcLIW3x
— Eleanor Terrett (@EleanorTerrett) November 25, 2024
This is usually the first step in applying for an ETF listing. Companies like BlackRock and Fidelity registered trust entities for their Bitcoin and Ethereum ETF applications submitted to the SEC earlier.
Eleanor Terrett stated that she has verified with WisdomTree that the application mentioned above was indeed submitted by the company, making it the latest company to apply for a spot XRP ETF following Bitwise and Canary Capital.
WisdomTree previously launched a spot Bitcoin ETF, and according to data from The Block, this fund currently manages about $367 million in assets. In May of this year, WisdomTree also received approval to list Bitcoin and Ethereum ETPs on the London Stock Exchange.
The US SEC has yet to approve any spot XRP ETF, and the legal dispute between the regulatory agency and Ripple remains unresolved. However, the market generally expects that the SEC will take a more lenient stance towards the cryptocurrency industry after Trump's administration.
"WisdomTree is preparing to launch a 'spot XRP ETF' with a trust entity registered in the state of Delaware" was first published in (Blockcast).
