$XRP is a financial product designed to track the price of XRP, the native digital asset of the XRP ledger. This fund allows traders to gain exposure to the price movements of XRP without the need to buy, store, or manage the cryptocurrency directly.
# Companies that have applied for XRP ETF approval
- *Bitwise*: The first company to apply for XRP ETF approval in October 2024.
- *Canary Capital*: Applied for XRP ETF approval in October 2024.
- *21Shares*: Applied for approval for Core XRP Trust, an index fund designed to provide indirect exposure to XRP.
- *WisdomTree*: Applied for approval for WisdomTree XRP Fund, which will be traded on Cboe BZX exchange.
- *Franklin Templeton*: Applied for XRP ETF approval in March 2025.
- *Grayscale*: Applied to convert Grayscale XRP Trust to ETF.
# Potential benefits of XRP ETF
- *Increased demand*: Approval of XRP ETF could lead to increased demand for XRP, potentially raising its price.
- *Liquidity*: XRP ETF could increase liquidity in the XRP market, potentially stabilizing XRP prices.
- *Institutional access*: XRP ETF could open the door for institutional investors who may be restricted from holding cryptocurrencies directly.
