The post WisdomTree Files for XRP ETF in Delaware, Suggesting Potential Regulatory Shift Amid SEC Developments appeared on BitcoinEthereumNews.com.

In a significant move for cryptocurrency investments, WisdomTree Funds has submitted a state-level filing for an XRP exchange-traded fund (ETF), signaling potential SEC approval. This filing, made in Delaware, aligns WisdomTree with notable early applicants like Bitwise and 21Shares, marking a crucial step toward mainstream acceptance of XRP as an investment vehicle. As noted by industry analysts, “The pathway for an XRP ETF may hinge on upcoming regulatory changes and the outcome of Ripple’s ongoing legal challenges.” – COINOTAG. WisdomTree Funds has filed for an XRP ETF, a critical move amidst ongoing SEC challenges, which hints at a shifting landscape for crypto investments. Strategic Timing for WisdomTree’s XRP ETF Filing The recent filing by WisdomTree for an XRP ETF comes at a crucial juncture in cryptocurrency regulation. Following a favorable ruling in July 2023 that determined XRP is not a security, Ripple, the issuer of XRP, has gained momentum in its legal battle against the SEC. This ruling may bolster the case for an ETF, as it enhances the legitimacy of XRP in the eyes of both investors and regulators. However, the SEC’s appeal, initiated on October 2, 2024, casts uncertainty on the future trajectory of XRP, particularly as the agency has requested an extension to submit their opening brief until January 15, 2025. The XRP community remains hopeful, believing that the legal landscape could evolve favorably for ETF proposals in light of these developments. The Ripple Effect of Presidential Politics on Cryptocurrency Regulation The implications of the recent 2024 presidential election extend far beyond traditional politics, potentially reshaping the cryptocurrency landscape significantly. With Donald Trump set to take office, analysts anticipate a shift toward a more favorable regulatory environment for cryptocurrencies. Trump’s campaign rhetoric emphasized making the U.S. a leader in Bitcoin and blockchain innovation. Should his administration pursue…

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Filed under: News - @ November 25, 2024 9:25 pm