WisdomTree moves to develop XRP ETF: WisdomTree, a leading asset management company in the US with more than 113 billion USD in assets, has taken the initial step in deploying an XRP exchange-traded fund (ETF) by registering in Delaware. The company plans to file an S-1 application with the US Securities and Exchange Commission (SEC) after completing this registration.

Benefits of XRP ETF for investors: An XRP ETF will allow investors to access XRP, considered the sixth-largest cryptocurrency by market capitalization, without directly owning the currency. This helps reduce the risks and costs associated with storing and securing digital assets.

Regulatory challenges for XRP ETF: The process of getting an XRP ETF approved is not easy due to the legal challenges surrounding XRP. Ripple Labs, the company behind XRP, is facing a prolonged lawsuit with the SEC regarding the classification of XRP as a security. A recent court decision distinguishes between transactions with institutions and the public.

Prospect of changing SEC’s stance: There is a possibility that SEC’s stance on cryptocurrencies will change, particularly if SEC Chairman Gary Gensler resigns. If the XRP ETF is approved, it could lead to a diversification of investment products for cryptocurrencies, in line with the increasing interest from financial institutions.