21Shares Pushes to Get SEC Approval for XRP ETF
Investment company 21Shares wants to bring a new way to invest in the XRP
If approved, 21Shares’ ETF, called the 21Shares Core XRP Trust , would be listed on the Cboe BZX Exchange. One of the big stock exchanges in the U.S. Instead of dealing with the ups and downs of buying XRP on their own, investors could buy shares of this fund to get a piece of the action. Coinbase Custody Trust Company, which is known for keeping digital assets safe, would act as the custodian, or the “safe keeper,” of the XRP used in this fund.
Getting an ETF approved by the SEC is no easy feat. Over the past year, several companies have filed requests for crypto ETFs. The SEC approved crypto-based ETFs for the first time just earlier this year. Since then, big names like BlackRock and Fidelity have joined the race to launch similar funds. Seeing the potential in making cryptocurrencies easier for everyday investors to access.
21Shares ✨ XRP ✨ ETF Filing ✨ https://t.co/uzcUzYgON3 pic.twitter.com/NLDeilAEkT
— Digital Assets Daily (@AssetsDaily) November 1, 2024
Why All the Fuss About Crypto ETFs?
ETFs have become a popular way for investors to gain exposure to assets without buying them directly. Crypto ETFs make it possible for people to invest in digital currencies through a more familiar platform, like a brokerage account.
With crypto prices swinging up and down, many people may feel like they’re jumping on a roller coaster. But through a crypto ETF , they can take a seat without the same risks that come with holding actual coins.
Disclaimer
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