🔸The SEC (regulatory body of the U.S.) has started reviewing WisdomTree's application for a spot XRP ETF, the first of its kind in the U.S. This fund will allow investment in XRP without directly owning the cryptocurrency. The SEC has up to 240 days to decide and is seeking public input on how it would affect market manipulation and investor protection. For its part, Ripple insists that XRP is not a financial "security" (like a stock), meaning it should not be subject to the same strict SEC regulations.
