WisdomTree’s XRP ETF Added to Federal Register, Awaits SEC Decision

• XRP ETF Registration by WisdomTree
• SEC evaluates proposal until October 24
• Potential significant market impact

Today marked a major step for WisdomTree’s XRP ETF with its publication in the Federal Register. The announcement begins a 21-day public comment period, followed by an SEC review that could last up to 90 days, for a total process that could last up to 240 days. A final decision on WisdomTree’s ETF is expected by October 24.

At the time of publication, the price of XRP was quoted at $2,18 with a drop of 5% in the last 24 hours.

During this initial period, financial institutions, investors and other interested parties have the opportunity to express their views on the viability of the ETF proposal, as well as its potential impact on the cryptocurrency market. The SEC will evaluate several factors, including compliance with securities laws, market integrity, risks of market manipulation and investor protections.

The filing of this ETF joins other recent proposals in the same space, reflecting a growing trend in interest in crypto-based ETFs. Previous proposals include those from Grayscale on Feb. 20, Bitwise on Feb. 24, and the Canary XRP Trust and CoinShares XRP ETF on Feb. 25.

The regulatory landscape in Washington is showing signs of change, with the new SEC administration now under the interim leadership of Mark Uyeda. The current administration has shown a greater openness toward crypto ETFs, including suspending some enforcement actions against major exchanges and creating a Cryptocurrency Task Force to develop a regulatory framework for digital assets.

Despite the optimism that the publication of the registration may generate, the approval of the ETF is not a given. The SEC promises a detailed review, which will include rigorous analysis of market surveillance and investor protections. The crypto community, therefore, awaits a decision that could have a significant impact on the market.