WisdomTree files for XRP ETF via Delaware trust, Joins Bitwise, Canary Capital In The Race
In addition to Bitcoin, asset managers are now eyeing XRP as the next big player in the ETF space. In the latest development, global ETF provider WisdomTree has applied to launch an XRP ETF in the United States, marking the third time the country has applied to establish a spot XRP ETF. Additionally, the price of XRP surged by more than 10% after the news was announced.
Eleanor Treat confirms legitimacy
Trust filing is a preliminary step in the ETF launch process and precedes a formal application with the SEC.
Fox reporter Eleanor Treat shared this latest news. Terrett also confirmed the legitimacy of the filing with WisdomTree, which manages more than $100 billion in assets. Furthermore, just recently, the organization launched its physical Ripple ETP in Europe. Delaware’s latest filing shows the company is increasingly interested in Ripple’s native token.
Additionally, two other companies have applied for an XRP ETF. In October, Bitwise and Canary Capital applied to the US SEC for a spot XRP ETF.
XRP surges 10%
The news sent a significant surge in XRP prices, with its value rising by more than 10% in intraday trading. Many market experts predict that if XRP breaks above $1.50, its price could rise above $2 in the short term.
Well-known analyst Armando Pantoja optimistically stated that XRP could surge to $8-30. This optimism stems from expectations that Ripple’s long legal battle with the U.S. SEC could be favorably resolved by early 2025, with Trump’s return and Gensler’s exit.
With the impending resignation of SEC Chairman Gary Gensler, speculation is growing about the future of the XRP ETF, especially due to the Ripple SEC case. Experts believe that Gensler’s departure could lead to regulatory easing, potentially paving the way for an XRP ETF under new leadership.
