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SEC Begins Review of First Spot XRP ETF Bid with WisdomTree Proposal

  • The US Securities and Exchange Commission (SEC) is reviewing a proposal for the first spot XRP exchange-traded fund (ETF) submitted by WisdomTree.
  • The ETF aims to offer investors exposure to XRP without owning the digital asset directly.
  • The SEC has initiated a public comment period to assess concerns regarding market manipulation and investor protection, with a decision deadline of up to 240 days.
  • WisdomTree's application for the XRP ETF follows the approval of spot ETFs for Bitcoin and Ethereum, signaling a push for expanding crypto investments in the US.

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