Cboe Files for Spot XRP ETFs
Cboe Submits Multiple Spot XRP ETF Applications
The Cboe BZX Exchange has filed Form 19b-4 applications with the SEC to list and trade spot XRP exchange-traded funds (ETFs). This significant move follows similar filings for Litecoin and Solana ETFs, fueling optimism within the cryptocurrency community.
Key players involved in these filings include:
- Bitwise Investment
- 21Shares
- Canary Funds
- WisdomTree
- Grayscale
Form 19b-4 is the SEC filing required for listing new financial products. The SEC has a 240-day review period, though approval is not guaranteed. Market sentiment remains positive, with some predicting a high probability of approval in 2025.
Potential Market Impact
The approval of XRP ETFs could be transformative. JPMorgan estimates $6 billion to $8 billion in first-year revenue, indicating strong anticipated demand. For institutional investors, ETFs offer a regulatory-compliant way to gain exposure to XRP.
This development follows the SEC's approval of Litecoin and Solana ETF filings from the NYSE. The Solana approval is particularly noteworthy, as the SEC previously considered it a security. This suggests a potential shift in regulatory stance toward cryptocurrencies.
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Disclaimer:
This information is for educational purposes only and should not be considered investment advice. Investing in cryptocurrencies carries significant risk. Always conduct thorough research and seek professional financial advice before making any investment decisions.