Prominent asset manager and exchange-traded fund issuer Wisdom Tree has reportedly filed for an XRP ETF product.
According to Eleanor Terret of Fox News, $100 billion asset manager Wisdom Tree has registered for an XRP ETF in the state of Delaware.
“NEW: Global ETF provider WisdomTreeFunds has registered in the state of Delaware for an XRP ETF. I have confirmed with the company that this is a legitimate deposit.
Wisdom Tree has over $100 billion in assets under management.
Earlier this month, asset manager 21Shares also filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC).
The proposed product, called “21Shares Core XRP Trust,” aims to be a passive investment vehicle that tracks the price of the payments-focused crypto asset.
21Shares and Wisdom Tree are not the first companies to attempt to launch XRP products. Bitwise Asset Management, the largest digital asset index fund manager in the United States, filed an initial registration statement for an XRP ETF last month.
Earlier this week, a crypto strategist known for making timely altcoin calls said it was possible for XRP to hit a massive $20 price target.
XRP is worth $1.43 at the time of writing, up 8% in the last 24 hours.
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