itwise, an asset manager, has recently announced that it has filed with the SEC for a XRP ETF in Delaware. This moves comes after a successful ETF launch of the two biggest cryptocurrencies Bitcoin and Ethereum. The approval of a XRP ETF would mark a significant achievement in the crypto space.
Recent Developments
It is important to note that Ripple, the company behind XRP has been going through a long battle with regulators which surpassed XRP’s price as it caused uncertainty amongst investors. However in 2024 Ripple won a partial victory in its SEC lawsuit. This is a positive sign for the underlying asset and explains why Bitwise has filled for a XRP ETF, highlighting a positive outcome for Ripple and XRP.
Uncertain Future for Crypto ETFs
Although Bitwise’s move to introduce a XRP ETF highlights growing interest in the underlying asset, the regulatory landscape remains complex. The main reason being that identifying wether a token is a security or not is still unclear, which creates a lot of doubt and uncertainty amongst investors as well as regulators which could impact the approval process for ETFs.
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