The U.S. Securities and Exchange Commission (SEC) has officially commenced its review of WisdomTree’s application to launch a spot XRP exchange-traded fund (ETF), a significant development in the ongoing integration of cryptocurrency into mainstream financial markets, according to BSCN Headlines.
The proposed WisdomTree XRP Fund aims to provide investors with direct exposure to XRP, the digital asset native to the Ripple network, through a regulated investment vehicle. According to the filing, the fund would be listed on the Cboe BZX Exchange, with the Bank of New York Mellon serving as the administrator, fund accountant, and transfer agent.
The ETF’s structure is designed to mirror traditional ETF mechanics, offering shares that represent a specific amount of XRP, thereby allowing investors to gain exposure to the cryptocurrency without the need to hold it directly.
🚨JUST IN: US SEC BEGINS REVIEW OF WISDOMTREE'S XRP TRUST APPLICATION FOR A SPOT XRP ETF
— BSCN Headlines (@BSCNheadlines) May 28, 2025
Regulatory Landscape and Public Comment Period
The SEC’s acknowledgment of WisdomTree’s filing initiates a formal review process, beginning with a 21-day public comment period. During this time, stakeholders, including investors and financial institutions, are invited to submit feedback on the proposal’s feasibility and potential market impact. Following the comment period, the SEC has up to 240 days to make a final decision on the application.
This review comes amid a shifting regulatory environment in Washington. Under the new administration, the SEC has shown a more open stance towards cryptocurrency ETFs, suspending enforcement actions against major exchanges and establishing a Crypto Task Force to develop a framework for digital asset oversight.
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Market Implications and Investor Interest
The initiation of the SEC’s review process has been met with optimism in the cryptocurrency market. XRP’s price experienced a notable increase following the acknowledgment of multiple ETF filings, including WisdomTree’s, signaling growing institutional interest in XRP-based investment products.
The approval of a spot XRP ETF would mark a significant milestone for the cryptocurrency industry, providing a regulated avenue for investors to gain exposure to XRP. It also reflects a broader acceptance of digital assets within traditional financial markets, potentially paving the way for the approval of ETFs based on other cryptocurrencies.
WisdomTree’s application for a spot XRP ETF represents a pivotal moment in the convergence of cryptocurrency and traditional finance. As the SEC embarks on its review process, the outcome will be closely watched by investors and industry stakeholders alike, as it may set a precedent for the future of cryptocurrency-based investment products in the United States.
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