Anushka Basu
2 min read
The SEC has formally taken action on the proposal filed by the Cboe BZX Exchange to list and trade shares of the WisdomTree XRP Fund.
The release indicates that the SEC has formally published SEC release [34-103124], and the application has entered a new phase of consideration to determine if the proposed spot XRP exchange-traded fund (ETF) meets the criteria outlined in Section 6 of the Securities Exchange Act of 1934.
The stated purpose of the WisdomTree XRP Fund is to provide investment exposure to XRP by tracking the value of XRP through the performance of its spot price based on the CME CF Ripple-Dollar Reference Rate (New York Variant).
The assets of the fund would consist of XRP only, cash, and cash equivalents. If the funds are allowed to be marketed, it could provide investors with exposure to XRP through brokerage accounts, rather than managing a digital wallet and private keys.
The SEC has not yet granted or rejected the application, but has moved the deadline into the evaluation phase under Section 19(b)(2)(B) of the Securities Exchange Act.
The agency will take time to consider whether the Exchange has proposed adequate and thoughtful measures to ensure there are sufficient safeguards against market manipulation and rules to protect investors and the public interest.
The Commission has made the application available for public comments, asking if they had any comments or opinions on whether the fund's design would prevent or limit any potential fraudulent activities or create any new regulatory aspects. Interested parties are invited to submit their written comments electronically.
This is a critical juncture for XRP, since it has had litigation and regulatory hurdles. If approved, the WisdomTree XRP Fund will be one of the first spot ETFs connected to the digital asset.
New XRP ETF is under official SEC review first appeared on TheStreet on May 27, 2025
