WisdomTree’s XRP ETF Application Under Review by US SEC
The United States Securities and Exchange Commission (SEC) is reviewing WisdomTree's spot XRP Exchange Traded Fund (ETF) application, marking its first formal review of a US-based spot XRP ETF. This review aims to determine the fund's commitment to investor protection.
- WisdomTree submitted its S-1 filing for the ETF in December 2024, with plans to list on the Cboe BZX Exchange.
- Bank of New York Mellon Corp. will manage the ETF if approved.
- The fund will allow investors to track XRP's market price via the CME CF Ripple-Dollar Reference Rate without needing private keys.
- The SEC has up to 240 days from May 27, 2025, to approve or reject the application.
- Public comments are being accepted regarding the ETF's compliance with investor protection rules.
As of May 1, approval odds for XRP ETFs increased to 85%, compared to 65% two months prior. Analysts believe that SEC approval may positively impact XRP's price, which was trading at $2.30 with a slight 0.66% dip within 24 hours.
- Analyst Ali Martinez predicts XRP could reach $15 following an SEC approval.
- Another analyst, Allincrypto, forecasts a potential price of $19.27.