XRP ETF: Here's a List of Companies Applying for Ripple Exchange Traded Funds, Don't Be Surprised!

Bittime -  A number of large companies, including WisdomTree, 21Shares, and Canary Capital, have filed XRP Exchange Traded Fund (ETF) applications with the US Securities and Exchange Commission (SEC). So what is an XRP ETF and what companies are applying for an XRP ETF? You will find the answer here!

After the emergence of Bitcoin and Ethereum-based Exchange Traded Funds (ETFs) in the United States this year, the crypto industry's attention is now turning to the possible approval of Ripple (XRP)-based ETFs. This surge in interest was triggered by recent regulatory clarity and court decisions regarding XRP. 

If approved, an XRP ETF could open up broader investment access for this asset in traditional markets, while strengthening its position in the global blockchain ecosystem.

What Is an XRP ETF?

ETFs are investment instruments that allow investors to have exposure to assets without having to own those assets directly. In the context of XRP, ETFs provide a way for investors to profit from XRP price movements through investment products listed on stock exchanges. This reduces direct ownership risks, such as crypto wallet management or security risks.

XRP-based ETFs could attract great interest from traditional investors as this asset serves an important function in the cross-border payments ecosystem. Ripple, the company behind XRP, has partnered with major financial institutions to provide fast, cheap and reliable payment solutions.

List of Companies Applying for XRP ETFs

Here is a list of major companies that have filed for XRP ETFs with US regulators:

1. WisdomTree

WisdomTree, which previously successfully launched a Bitcoin ETF called BTCW, filed an S-1 for an XRP ETF on December 2 2024. The plan is that this ETF will be listed on the Cboe BZX Exchange. Although it has not detailed details such as asset custodians and stock symbols, WisdomTree is known to have experience in managing crypto-based products.

2. 21Shares

The asset manager firm filed Form S-1 on November 1, 2024 to launch the “21Shares Core XRP Trust” on Cboe BZX. If approved, Coinbase Custody Trust Company will act as custodian of the assets. Previously, 21Shares had launched an XRP-based ETP product in Switzerland in 2019 with total assets reaching $54 million (Rp. 864 billion).

3. Canary Capital 

Canary Capital, led by former Valkyrie Chief Investment Officer Steven McClurg, has also entered the XRP ETF race. The company applied to launch the “Canary XRP ETF” in early December. This ETF aims to provide traditional investors with easier access to buying XRP through a regular brokerage account without the technical risks of managing digital assets.

4. Bitwise

Bitwise became one of the first companies to propose an XRP-based ETF in October 2024. This step was taken after XRP received regulatory clarity in the US. However, many analysts believe that the approval of an XRP ETF will be greatly influenced by the outcome of the 2024 US presidential election.

Ripple USD (RLUSD) Stablecoin Launch Plan

Apart from ETFs, Ripple is also developing a new stablecoin called Ripple USD (RLUSD). This stablecoin is designed to support cross-border transactions with greater stability, backed by US dollar deposits, US government bonds and other low-risk investments. This launch is expected to increase XRP liquidity and attract more users to the Ripple ecosystem.

Monica Long, President of Ripple, stated that the stablecoin is planned to launch in late 2024. "We believe RLUSD will be an important addition to the XRP ecosystem, bringing stability and flexibility to users and developers," she said at the XRP conference in Las Vegas.

Conclusion

With various initiatives such as ETFs and stablecoins, Ripple shows its commitment to expanding the XRP ecosystem. An XRP-based ETF will not only open wider access for traditional investors but also strengthen XRP's position as one of the world's premier digital assets. 

Meanwhile, the RLUSD stablecoin has the potential to strengthen XRP's role in cross-border payment solutions. The combination of regulatory clarity, product innovation, and increasing institutional interest has made Ripple and XRP one of the most closely watched digital assets today. 

2025 could be an important moment for Ripple in facing competition in the global crypto market.

FAQ

What is XRP?

XRP is a crypto asset developed by Ripple Labs. XRP is used in the Ripple network to facilitate instant cross-border and cross-currency financial transactions. The Ripple network uses XRP Ledger blockchain technology to secure and process transactions.

What Is an XRP ETF?

An XRP ETF is an investment product that allows investors to have exposure to the digital asset XRP without having to own the asset directly. In the context of XRP, ETFs provide a way for investors to profit from XRP price movements through investment products listed on stock exchanges.

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Reference

Masscolo, Ripple Spot ETF Timing, Accessed December 4, 2024
CoinMarketCap, Accessed December 4, 2024