#XRPETF
XRP ETFs are exchange-traded funds designed to track the price of XRP, allowing investors to gain exposure to the cryptocurrency through traditional brokerage accounts. Several major asset managers have filed for XRP ETFs, including.
- *Bitwise*: Filed the first XRP ETF application in October 2024, partnering with Coinbase Custody as the custodian.
- *Canary Capital*: Filed for multiple crypto ETFs, including XRP, confident in the new regulatory environment.
- *21Shares*: Offers the 21Shares XRP ETP (AXRP) in European markets, 100% physically backed by XRP.
- *WisdomTree*: Filed for an XRP ETF in Delaware on November 25, 2024, with a formal application to the SEC.
- *Franklin Templeton*: Filed for an XRP ETF in March, becoming the ninth firm to do so.
- *Grayscale*: Proposed converting its XRP Trust into an XRP ETF trading on the New York Stock Exchange.
The approval of XRP ETFs could lead to increased demand, liquidity, and stable price discovery. However, regulatory uncertainty surrounding XRP's classification as a security or commodity remains a challenge. A favorable ruling and potential changes in the regulatory landscape could pave the way for approvals.
The current XRP price is $2.18, with a market capitalization of $130.19 billion. Some existing XRP-related financial products include.
- *21SHARES XRP ETP*: Trading on exchanges like SIX Swiss Exchange and Amsterdam Exchange, with current prices ranging from $53.78 to $61.52.
- *Potential Upcoming Products*: Several firms have filed for XRP ETFs, but none have been approved yet in the US.
