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SEC Approves Spot XRP ETF: When Will It Be Approved?
As we approach 2025, one thing that cryptocurrency traders desire is a more open trading environment, and what many of them hope for is the emergence of an XRP ETF. The race to launch the XRP Spot Exchange-Traded Fund (ETF) is currently underway, with several filings submitted to the SEC. Bitwise Asset Management, Canary Capital, 21Shares and WisdomTree are among the companies vying for approval, demonstrating the increasing interest in investment products focused on XRP. The first filings begin with Bitwise's S-1 application on October 2nd and 21Shares' Core XRP Trust stock application on November 1st. The most recent filing, submitted by WisdomTree on December 2, 2024, proposes the listing of the 'WisdomTree XRP Fund' on the CBOE BZX Exchange. These records highlight the increasing interest in XRP-based ETFs, as asset managers bet on the potential demand for a managed investment vehicle closely tied to cryptocurrency. Traditionally, the SEC reluctantly approved cryptocurrency ETFs due to concerns about market manipulation and insufficient regulatory oversight. However, the approval of BlackRock's Bitcoin Spot ETF earlier this year signals a significant shift in the SEC's stance. Adding to the optimism is the upcoming departure of SEC Chairman Gary Gensler. Known for his strict approach to cryptocurrency, Gensler's departure could pave the way for more favorable regulatory decisions. Ripple's recent legal victories in the lawsuit against the SEC over whether XRP is a security or not also strengthen the chances of ETF approval. These developments significantly reinforce XRP's position in the regulatory context. Market analysts note that the XRP spot ETF could have a significant impact on the adoption of XRP by making this cryptocurrency more accessible to institutional investors, thereby potentially boosting its liquidity and market value. The SEC typically responds to S-1 filings within 30 days, but the approval process often takes several months. If the current filing follows historical trends, a decision on the Spot XRP ETF could be made as early as the first or second quarter of 2025. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)