- To respond to regulatory concerns, asset managers offer to obtain XRP from secondary markets.
- Ripple’s partial victory over dry fueling optimism for an XRP ETF.
On Thursday, February 6, CBOE Exchange sent a request to the dry trade SPOT XRP ETF, marking significant progress in the ETF Crypto landscape. This file was submitted under rule 19B-4, on behalf of four Wisdomtree, Bitwise, 21Shares and Canary Capital companies that seek approval to launch negotiated on the stock market on XRP, the fourth largest cryptocurrency by market capitalization.
XRP Spot ETF is waiting for a dry review
This submission is part of the final phase of the two -step procedure to introduce an Crypto ETF. Once the SEC has recognized it, the proposal will appear in the federal register, then the process of launching the agency’s examination begins. Most analysts predict that, as long as a Pro-Crypto government and a president of the entering sec, the green light from the ETF SPOT XRP would be earlier in this year.
“The scholarship maintains that the granting of the approval of this proposal (and similar) offers the Commission a chance to provide American investors with access to XRP via a regulated and transparent on the stock market designed to mitigate the risk to National investors, “said the file.
Companies hope Ripple’s legal victory over dry
The funds (ETF) for the exchange for the exchange for XRP increased considerably after the partial courtroom of Ripple Labs success In mid-2023, because he obtained a positive result in his battle against the American Securities and Exchange commission (Sec). This judicial decision was mentioned in several Submissions ETF.
As the regulatory examination progresses, significant institutional capital is expected to be pulled out in cryptocurrencies. The introduction of FNB focused on XRP, as well as comparable investments, focused on the main digital assets such as Solana, would provide extensive players in the blockchain -based financial instrument market.
SEC Mark Uyeda, supported by Commissioner Hester Peirce, supports a working group on digital assets dedicated to the definition of the legal classification of cryptocurrencies. Peirce also stressed the importance of differentiation, the tokens of which are considered as titles also simplifying the compliance procedures for companies
Unlike previous cryptocurrency ETFs, Ripple has no a long-term market on the Mercantile Chicago Exchange (CME), a crucial factor that the SEC considered when approving Bitcoin and Ethereum funds. To improve the chances of regulatory acceptance, Wisdomtree, one of the candidates adopts protective measures, in particular the acquisition of XRP exclusively from secondary markets. This strategy does not provide any direct association with Ripple Labs, the company at the heart of the legal dispute in progress with the SEC.
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