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The Spot XRP ETF Race Officially Begins With New 19b-4 Filings

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The Spot XRP ETF Race Officially Begins With New 19b-4 Filings 2

Key Points:

  • Cboe BZX has filed four spot XRP ETF applications with the SEC, representing WisdomTree, Bitwise, 21Shares, and Canary Capital.
  • Spot XRP ETFs gained traction after Ripple Labs’ partial legal win in its SEC lawsuit, and experts predict potential approval under a pro-crypto administration and new SEC leadership.

The Cboe BZX exchange has filed four spot XRP ETF applications with the SEC, representing firms WisdomTree, Bitwise, 21Shares, and Canary Capital.

Read more: Spot XRP ETF Is Likely To Be Approved in 2025: Report 

Cboe Files Four Spot XRP ETF Applications with SEC

The SEC’s review process is set to begin once the filing is published in the Federal Register following its acknowledgement. This is part of a two-step process for launching a crypto ETF.

Experts suggest that the approval of spot XRP ETFs could happen sooner rather than later, with growing optimism around a pro-crypto administration and the appointment of a new SEC chair.

Interest in spot XRP ETFs has surged following Ripple Labs‘ partial legal victory in its ongoing lawsuit against the SEC in July 2023. The launch of XRP ETFs, alongside products targeting other prominent cryptocurrencies like Solana and Dogecoin, has been attracting attention recently.

SEC’s Shifting Stance Could Pave the Way for XRP ETF Approval

Unlike Bitcoin and Ethereum, which have established futures markets on the Chicago Mercantile Exchange (CME), XRP lacks such a market, which has previously influenced the SEC’s decision-making for crypto ETF approvals.

Under the leadership of former SEC Chairman Gary Gensler, the agency rejected crypto ETF applications because they did not meet the criteria for “commodity trust shares.” However, with the appointment of Mark Uyeda as acting SEC Chair, a shift toward a more crypto-friendly stance has raised the possibility of a breakthrough in the approval of XRP ETFs.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Avatar of John Kojo Kumi

John Kojo Kumi

07 February 2025, 04:48:00 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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