Key takeaways
- WisdomTree has filed an application to establish a trust in Delaware for a proposed XRP ETF.
- This filing is part of the increase in crypto ETF activity beyond Bitcoin and Ethereum.
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WisdomTree, which manages approximately $113 billion in assets, has filed to create a trust entity for a proposed XRP exchange-traded fund in Delaware, marking a first step toward possible SEC registration .
With this filing, WisdomTree will soon join a list of asset managers looking to launch an XRP ETF. Bitwise made the first move last month, followed briefly by Canary Capital.
The asset manager’s planned XRP ETF would track the price of XRP, currently ranked as the sixth largest crypto asset by market capitalization. The company did not specify a trading location or ticker symbol for the proposed fund.
The filing comes amid growing activity in crypto ETF applications beyond Bitcoin and Ethereum products. Last week, Bitwise filed an S-1 registration statement for its Solana ETF project.
The trust’s filing in Delaware represents a preliminary step in the ETF launch process, preceding a formal application to the Securities and Exchange Commission for regulatory review.
This is a developing story.
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