21Shares Files for XRP ETF Approval with SEC

Asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch an XRP exchange-traded fund (ETF). In a filing dated Nov. 1, the company filed an S-1 form indicating its interest in listing the “Core XRP Trust” on the Cboe BZX Exchange.

While the fund does not offer direct exposure to XRP, it does allow investors to indirectly access the cryptocurrency market.

Advertisement

Should the SEC approve the application, Coinbase Custody Trust Company will act as the asset’s custodian, handling the secure storage of funds allocated to XRP.

Prior to 21Shares, other companies, such as Bitwise, have filed similar proposals for XRP ETFs, although the SEC has yet to respond to those requests. The Commission has already approved spot Bitcoin and Ethereum ETFs in 2024. However, it has yet to decide on ETFs for other cryptocurrencies such as XRP and Solana.$XRP