
WisdomTree Submits S-1 Application for XRP ETF with US SEC
The demand for XRP among institutional investors has seen several fund managers file for spot ETF approval amid the upcoming change of the US SEC administration.
The demand for XRP among institutional investors has seen several fund managers file for spot ETF approval amid the upcoming change of the US SEC administration.
WisdomTree’s XRP ETP offers secure and cost-efficient investment, fully backed by XRP, with assets stored safely by regulated custodians.
Despite a bullish market, institutional investors pulled $400 million from Bitcoin ETFs.
The eight-day streak in net inflows is a strong indicator that investors are increasingly viewing Bitcoin ETFs as a strategic addition to their portfolios.
While five of the eleven approved Bitcoin ETFs saw positive inflows running into the millions, the remaining products experienced mixed results.
Despite recent inflows signaling renewed confidence in Bitcoin ETFs, Grayscale’s GBTC continues to struggle with significant outflows, highlighting ongoing investor hesitation.
On July 17, BlackRock’s Bitcoin ETF, known as IBIT, recorded the highest inflow in a single day, bringing in a total of $110.37 million.
Although the intakes are currently happening at a much slower rate than before, these ETFs have still impressed so far.
Despite this fee waiver, Global X’s Bitcoin and Ethereum ETPs remain relatively modest in size.
WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), will give investors access to Bitcoin and Ethereum while being fully backed by the actual assets.
Despite this positive trend, overall flows for these ETFs remain below their March peak.
While it is not certain if the drop in the price of Bitcoin is caused by reduced investors’ appetite for spot ETFs, the decline is substantial as it marks a 6% reduction from its all-time high of its $73,628.
WisdomTree intends to use the WisdomTree Digital Trust Company to provide products and services to institutions and commercial customers in the future.
Despite the public rejection, ETFS Capital moves its campaign directly to WisdomTree’s broader shareholder base.
The influx of investments into Bitcoin ETFs, culminating in a total of $563 million on March 4, signifies a robust institutional endorsement of cryptocurrency.