Cboe BZX files ETF application for XRP for Bitwise, WisdomTree, Canary and 21Shares
Canary Capital, WisdomTree, 21Shares and Bitwise are the latest asset management companies to apply for the launch of XRP exchange-traded funds.
The Cboe BZX exchange just filed a 19b-4 application on behalf of four asset management companies seeking to list the first spot XRP exchange-traded fund in the United States. On February 6, the exchange submitted a 19b-4 application for Canary Capital, WisdomTree, 21Shares and Bitwise for ETFs tracking the price of XRP, which is currently the fourth largest cryptocurrency by market capitalization.
The 19b-4 filing notifies the Securities and Exchange Commission of a proposed rule change, and if approved, it will lead to the launch of the first XRP ETFs in the country.
The SEC, under former Chairman Gary Gensler, allowed ETFs tracking Bitcoin and Ether to begin trading in early 2024.
However, now with cryptocurrency-friendly Chairman Mark Uyeda at the helm, analysts have noted an increase in the number and diversity of cryptocurrency-related ETF filings as issuers explore which products the SEC, influenced by the Trump administration, will allow.
Last week, on January 28, Cboe BZX refiled a 19b-4 application for Solana spot SOL ETFs for Canary, 21Shares, Bitwise and VanEck, which the SEC under Gensler was reported to have rejected at the end of last year.
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