MEMX Applies to SEC for Listing of XRP ETF
XRP ETF Proposal
MEMX, a U.S. securities exchange, has filed an application with the Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) based on XRP. The proposed fund will be structured as a "commodity-backed Trust", a model that has been used for Bitcoin and Ethereum ETFs.
Growing Interest in XRP ETF
This filing marks the latest move by a U.S. exchange to provide an ETF holding spot XRP, the native Token of the XRP Ledger blockchain of Ripple. The decision to file the application comes against a backdrop of increasing interest in cryptocurrency ETFs, following a key legal ruling favorable to Ripple, determining that XRP is not automatically considered a security.
Multiple exchanges are exploring opportunities to offer similar products. The demand for these ETFs is evident, with as many as 15 different ETFs competing for listing approval. With institutional demand on the rise, many believe that SEC approval of these ETFs could drive significant buying activity, pushing the value of XRP to new highs.
Grayscale and XRP ETF
Grayscale, a digital asset management firm, is working to launch a spot XRP ETF. On January 30, 2025, NYSE Arca filed a form with the SEC to list Grayscale's XRP Trust as an ETF. This initiated a 240-day review period, with a decision expected in mid-October 2025. The SEC acknowledged the registration filing on February 14, 2025.
Will XRP Price Increase?
Major players in the market, including whales, have been actively accumulating millions of XRP over the past few months. The anticipation of the approval of XRP-based ETFs is heating up. With institutions increasingly focusing on XRP and the SEC's lawsuit against Ripple nearing a potential resolution, the sentiment around XRP has never been stronger. Digital asset enthusiasts are preparing for a historic price surge, with predictions that the price could break records and challenge Bitcoin Dominance.
