The U.S. Securities and Exchange Commission (SEC) has progressed WisdomTree’s application for a spot XRP exchange-traded fund (ETF) to a formal review stage, following the conclusion of the public comment period.
WisdomTree’s XRP ETF Moves for Formal Evaluation
This development places the proposal under further regulatory scrutiny, extending the timeline for a final decision by up to 240 days.
The proposal, submitted through the Cboe BZX Exchange, seeks to list and trade shares of the WisdomTree XRP Fund, which would track the real-time spot price of XRP. The fund’s valuation would be based on the CME CF Ripple-Dollar Reference Rate (New York Variant) and hold assets comprising XRP, cash, and cash equivalents.
Regulatory Process Moves Into Next Phase
According to the SEC release [34-103124], the regulatory agency has officially initiated proceedings to assess whether the proposed ETF aligns with the requirements of Section 6 of the Securities Exchange Act of 1934. Th
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