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Expanding beyond Bitcoin, asset managers eye XRP as the next big player in the ETF space.
Key Takeaways
WisdomTree filed to establish a Delaware trust for a proposed XRP ETF. This filing is part of increasing crypto ETF activity beyond Bitcoin and Ethereum. <?xml encoding="UTF-8"?>WisdomTree, managing $100 billion in assets, has filed to establish a trust entity for a proposed XRP exchange-traded fund in Delaware, marking an initial step toward potential SEC registration.
With this filing, WisdomTree will soon join a lineup of asset managers seeking to launch a Solana ETF. Bitwise made the first move last month, followed briefly by Canary Capital.
The asset manager’s planned XRP ETF would track the price of XRP, currently ranked as the sixth-largest crypto asset by market capitalization. The firm has not specified an exchange venue or ticker symbol for the proposed fund.
The filing comes amid increasing activity in crypto ETF applications beyond Bitcoin and Ethereum products. Last week, Bitwise lodged an S-1 registration statement for its proposed Solana ETF.
The Delaware trust filing represents a preliminary step in the ETF launch process, preceding a formal application to the Securities and Exchange Commission for regulatory review.
This is a developing story.
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