XRP ETF: List of 4 Investment Firms Filing for Ripple Coin Exchange Traded Funds

Bittime - Four investment firms, including Bitwise and WisdomTree, have filed for spot XRP ETFs. Find out the details of the filings and how this could affect Ripple's XRP in this article.

Ripple's XRP is back in the spotlight after several major investment firms filed for a spot XRP ETF. The move opens up new opportunities for the digital asset to gain wider recognition in the traditional financial world.

ETFs, or Exchange Traded Funds, allow investors to invest in digital assets like XRP without having to own them directly.

With the surge in XRP prices and the anticipation of regulatory approval, here is a list of four investment firms that have filed for spot XRP ETFs, as well as their impact on Ripple's XRP ecosystem.

Also read: Can XRP Displace ETH from 2nd Place Crypto by Market Cap?

1. Bitwise: Pioneer of XRP ETF Filing

Bitwise Asset Management became the first company to file an XRP ETF spot in October 2024. This move has attracted attention as XRP had previously faced trading restrictions on US exchanges due to a lawsuit with the SEC.

The filing includes plans to create an XRP trust registered in Delaware, showing the firm's optimism for XRP's prospects as a legitimate and valuable digital asset in the global market.

2. Canary Capital: A New Competitor in the XRP ETF Industry

Canary Capital, led by Valkyrie's former CIO, Steven McClurg, has also jumped on the bandwagon with the filing of an XRP ETF in October 2024. As a new player in the market, Canary Capital aims to give institutional investors wider access to Ripple's XRP.

This filing strengthens XRP's position as one of the key digital assets targeted for ETF-based investment products.

3. 21Shares: Developing an XRP ETF Portfolio

21Shares, which has been known for its crypto ETP products in the European market, is filing for a spot XRP ETF in the US. The filing was made in November 2024 and targets a listing on the Cboe BZX Exchange.

In the filing, 21Shares plans to use Coinbase Custody as the custodian for its XRP assets, providing security and transparency for investors.

Also read: XRP Transactions Top $1 Million in 24 Hours Ahead of Trump Inauguration

4. WisdomTree: Experienced Player in the Crypto ETF Market

WisdomTree, which has had previous success with Bitcoin ETFs, filed for an XRP ETF in December 2024. While not many details have been released, this move shows WisdomTree's keen interest in digital assets like Ripple's XRP.

With previous experience, WisdomTree has the potential to be one of the major players in offering XRP ETF products that are expected to be more widely accepted by investors.

XRP ETF Approval Optimism

Along with the increasing adoption of XRP and a more digital asset-friendly regulatory turn, the spot XRP ETF approval could be a huge catalyst for the growth of Ripple's XRP ecosystem.

If approved, the XRP ETF will provide easy access for institutional investors to participate in the XRP market, while increasing the legitimacy and global acceptance of this digital asset.

With the growing interest in Ripple Exchange Traded Funds, XRP coin is on track to become one of the leading digital assets in the modern financial era.

FAQ

What is an XRP ETF?

An XRP ETF (Exchange Traded Fund XRP) is an investment product that allows investors to have exposure to Ripple's XRP without having to purchase the digital asset directly. These ETFs are traded on exchanges, similar to stocks, and are designed to reflect the price movements of XRP.

Who are the companies applying for the XRP ETF?

Four major investment firms have filed for the spot XRP ETF, namely Bitwise Asset Management, Canary Capital, 21Shares, and WisdomTree. They are hoping to get the product approved by the SEC to give investors wider access to Ripple's XRP.

What impact will the XRP ETF approval have on Ripple Coin?

If the XRP ETF is approved, it could increase the legitimacy of XRP in the eyes of institutional investors and expand its adoption in the global market. In addition, an XRP ETF could also potentially push the price of XRP higher by attracting interest from a wide range of investors.

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References

ccn.com, Ripple (XRP) Spot ETF Timing: SEC To Announce Decisions in January, accessed on January 21, 2025.

Author: AWW