$XRP #XRPETHFIncoming The US Securities and Exchange Commission (SEC) is currently reviewing applications for XRP and SOL-based ETFs from several issuers, including Bitwise Asset Management, 21Shares, CoinShares, and Grayscale. Recently, the SEC confirmed receiving applications from WisdomTree and Canary Capital for XRP-based funds, which positively impacted the cryptocurrency's price .
As of now, the Ripple token is trading at $2.67, with a 4.6% increase in the past 24 hours and over 9% in the past seven days, according to CoinMarketCap. The possibility of an XRP-ETF launch was initially considered unlikely, especially after Donald Trump's 2024 US presidential election win, due to Ripple's long-standing conflict with the SEC .
However, the market sentiment has shifted, with many participants now optimistic about the chances of XRP-ETFs being approved. This change in attitude can be attributed to the SEC's increasingly crypto-friendly stance .
Some of the key companies vying for XRP ETF approval include:
- Bitwise Asset Management: Filed a proposal for an XRP ETF in October 2024 .
- 21Shares: Submitted a proposal for an XRP ETF, with Coinbase Custody Trust Company as the asset custodian .
- WisdomTree: Filed an S-1 application for an XRP ETF, which would be listed on the Cboe BZX Exchange .
- Canary Capital: Applied for an XRP ETF, aiming to provide traditional investors with easier access to XRP .
- Grayscale: Also submitted an application for an XRP ETF, although details are scarce .
