Company Worth $113 Billion Pushes Button for XRP: Officially Registers - Coin Bulletin

WisdomTree, a world-renowned exchange-traded fund (ETF) provider, has registered an XRP ETF asset in Delaware.

This move is seen as a sign that the company is preparing to submit a spot ETF application for XRP to the U.S. Securities and Exchange Commission (SEC).

WisdomTree, a major fund provider with $113 billion in assets under management, is also actively involved in the crypto ETF space. The company's Bitcoin ETF stands out with approximately $367 million in assets under management. Additionally, in May, WisdomTree successfully obtained approval for physically backed Bitcoin and Ethereum products on the London Stock Exchange.

Other financial institutions such as Bitwise and Canary Capital have also submitted XRP spot ETF applications to the SEC. Bitwise stated in its application that XRP is not a security and used the expression, 'XRP is a decentralized digital asset and its ownership is recorded on a decentralized ledger.' This stance contradicts the SEC's previous assessment of XRP as a security.

What does Spot XRP ETFs mean?

The approval of an XRP spot ETF could enable wider adoption of both XRP and the crypto market in general by broader audiences. The interest of major fund managers like WisdomTree reflects Wall Street's confidence in and long-term potential for crypto financial products.

Under the SEC's new leadership, easier approval of financial instruments for XRP and other crypto assets can create new opportunities in the market.