cryptobriefing.com
WisdomTree has officially filed a Form S-1 registration statement with the Securities and Exchange Commission for a spot $XRP exchange-traded fund, marking its entry into the growing field of asset managers seeking to launch $XRP-based investment products.
Bank of New York Mellon will serve as the administrator for the proposed trust, according to the December 2 filing. The planned ETF would track $XRP’s price, which currently ranks as the third-largest crypto asset by market value.
With this move, WisdomTree joins a growing group of asset managers seeking to introduce $XRP-based funds in the US, including Bitwise and Canary Capital, both of which filed for $XRP ETFs earlier this year. The asset manager has not yet specified an exchange venue or ticker symbol for the proposed fund.
The filing follows WisdomTree’s recent establishment of a trust entity in Delaware for the proposed fund. The move comes amid uncertainty over the SEC’s stance on $XRP, particularly given Ripple Labs’ ongoing legal disputes with the regulator.
Industry observers suggest that SEC Chair Gary Gensler’s imminent resignation could prompt a reevaluation of the agency’s approach to litigation, potentially creating a more favorable environment for $XRP ETFs under future leadership.
This is a developing story.