WisdomTree Files For XRP ETF In Delaware Trust, Joins Bitwise, Canary Capital In The Race
Moving beyond Bitcoin, asset managers are now considering XRP as the next big player in the ETF space. In a recent development, global ETF provider WisdomTree is set to launch an XRP ETF in the US, specifically this is the third filing to establish an XRP ETF in the country. Moreover, the price of XRP increased by more than 10% after the announcement.
Eleanor Terret confirmed the legitimacy
The trust filing represents the first step in the ETF launch process, prior to a formal filing with the SEC.
The update was shared by Fox reporter Eleanor Terrett. Terrett verified the legality of the record at Wisdomtree, which manages more than $100 billion in assets. Also, just recently, the firm introduced a physical Ripple ETP in Europe. The latest Delaware filing reveals the company's interest in Ripple's native token.
Additionally, two other firms have proposed XRP ETFs. In October, Bitwise and Canary Capital filed for a spot XRP ETF with the US SEC.
XRP rose by 10%
The news led to a significant price increase for XRP, whose value rose more than 10% in intraday trading. Many market experts predict that if XRP rises above $1.50, the price may rise above $2 in a short period of time.
Prominent analyst Armando Pantoja has suggested that XRP may rise to $8-$30 in a bullish view. This optimism stems from speculation that Ripple's long-running legal battle with the US SEC could be resolved in early 2025, coinciding with Trump's return and Gensler's exit.
With SEC Chairman Gary Gensler set to resign, speculation is mounting over the future of XRP ETFs, particularly the Ripple SEC case. Experts believe Gensler's departure could lead to a relaxation of regulations that could ease the way for XRP ETFs under new leadership.
