Wall Street is getting serious about a Ripple ETF.
What’s happening:
- More large asset management companies have officially filed applications with the United States Securities and Exchange Commission to list a spot XRP ETF on a major stock exchange
Why it matters:
- The price of XRP has been surging recently, in large part due to speculation that the outcome of the recent presidential election in the United States of America will be very favourable for crypto regulation moving forward and that Ripple will no longer face legal scrutiny or obstacles
Who is making moves:
- WisdomTree is the most recent asset management giant to officially file an application to list a spot XRP ETF on a major stock exchange in the United States
- 21Shares also just recently filed an application for a spot XRP ETF with the Securities and Exchange Commission
- Previously, Bitwise and Canary Capital were amongst the first asset management companies to bring a spot XRP ETF application to American regulators
Going deeper:
- Ripple has also been advancing their plans to launch a stablecoin, which has led to a flurry of new partnerships with notable crypto exchanges including Bitstamp and Bullish
