SEC Initiates Review of First XRP ETF Proposal from WisdomTree

The U.S. Securities and Exchange Commission (SEC) has begun reviewing the first-ever exchange-traded fund (ETF) proposal focused on the cryptocurrency XRP, submitted by WisdomTree. This marks a significant step towards mainstream financial market adoption of XRP. This development follows a period of uncertainty surrounding XRP’s legal status, stemming from the SEC’s lawsuit against Ripple Labs. SEC approval of this proposal is anticipated to substantially increase XRP’s value and trading volume. The SEC will meticulously evaluate the proposal against its stringent regulatory standards, including assessing market risks and fund operational transparency. The review process is expected to take several months, with the final decision contingent upon the comprehensive assessment’s outcome. This move represents a landmark event in the evolution of the cryptocurrency market, reflecting the industry’s ongoing pursuit of innovative financial products based on digital assets.