Key dealers
- SEC acknowledged Bitwise’s archiving for a spot XRP ETF and started a review that can last for up to 90 days.
- The proposed ETF would give investors regulated access to XRP, the native asset designed for cross -border payments.
The SEC today acknowledged an application for a place XRP ETF from BitwiseSelect the regulator’s formal review of the proposal.
CBOE BZX Exchange submitted the proposal on February 6 To list and shop Bitwise XRP ETF as a commodity -based trust share.
With the recognition now in hand, Sec has up to 90 days to review the application and provide a formal answer.
The proposed ETF would offer investors exposure to XRP, the original asset for the XRP headbook, through a traditional financial product.
The notification notes that XRP primarily acts as a tool for fast, cheap cross -border payments, which separates it from Bitcoin and Ethereum, which is often regarded as value stores.
It also draws parallels between XRP’s market characteristics and Bitcoin and Ethereum, which recently received SEC approval for Spot ETFs.
The proposal emphasizes XRP’s fluid, decentralized and resilient market structure.
It also refers to Sec against Ripple Lab’s court decision, which determined that Ripple’s programmatic sales of XRP were not securities transactions.
If approved, ETF would give regulated access to XRP investments and at the same time eliminate the requirements for self-conditions.
The document illustrates that trade in a regulated exchange would ensure price opening and facilitate market entry and output, while competition can drive lower management fees compared to existing crypto funds without a disk.
