Bitcoin and Ethereum spot ETFs have successively been approved by the U.S. Securities and Exchange Commission (SEC) for listing, stimulating market expectations for other crypto-asset ETFs, including SOL, DOGE, XRP and other altcoins that are expected to launch similar products in the future.
Bitwise Submits XRP ETF Application
Asset management company Bitwise announced yesterday (2) that it had submitted an application for an XRP (Ripple) ETF to the Delaware authorities in the United States on September 30. According to Bitwise’s application documents, once approved, the ETF will allow institutional investors to invest in XRP in compliance with regulations, further increasing the liquidity and adoption rate of XRP. However, it’s important to note that Bitwise is currently filing with the state of Delaware, rather than directly with the SEC, indicating that the ETF is in its early stages and that even eventual approval may take months.
Analyst: Chances of XRP ETF approval slim
Analyst Alex Thorn reminded investors on Twitter that the current legal dispute between the U.S. SEC and Ripple has not yet been resolved. If an XRP ETF application is submitted at this time, the SEC will most likely refuse approval, and the possibility of Bitwise XRP ETF being approved is almost zero. .