Asset management company 21Shares has filed an application with the U.S. Securities and Exchange Commission (SEC) to register an XRP ETF for immediate delivery. In the filing submitted on November 1, 21Shares has completed Form S-1 to list and trade the shares of the Core XRP Trust on the Cboe BZX Exchange.
This fund does not provide investors with direct exposure to XRP, but instead creates an "indirect access opportunity to the market".
If approved, Coinbase Custody Trust Company will serve as the custodian for 21Shares' XRP. Notably, other asset management companies such as Bitwise have also filed for XRP ETFs previously.
Although the SEC has approved Bitcoin and Ether ETFs in 2024, the agency has not yet responded to XRP ETF applications in the context of the lawsuit with Ripple Labs. The ruling from this lawsuit, which is awaiting appeals from both the SEC and Ripple, has confirmed that the XRP token is not considered a security in transactions on the exchange.
Since the SEC's approval of the Bitcoin ETF for immediate delivery in January, other asset management companies have been seeking opportunities in the cryptocurrency investment field. VanEck, 21Shares, and Canary Capital have jointly filed for the listing of a Solana ETF for immediate delivery, while Canary has also proposed a Litecoin ETF.
The SEC is likely to delay its decision or open a comment period for the ETF filings for several months, potentially creating conditions for new administrations. Some political experts are predicting that Democratic Party member Kamala Harris or Republican Party member Donald Trump could replace SEC Chairman Gary Gensler if they win the upcoming election.
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According to Cointelegraph
