The US SEC has initiated a review of the WisdomTree XRP Trust ETF filing and is now seeking public comments.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
The United States Securities and Exchange Commission (SEC) has decided to review WisdomTree’s spot XRP Exchange Traded Fund (ETF) application. This is the commission’s first formal review of a US-based spot XTP XRP $2.27 24h volatility: 1.2% Market cap: $133.17 B Vol. 24h: $2.13 B ETF.
The SEC is conducting this review to ascertain whether the proposed XRP ETF is committed to protecting investors and their assets. If the agency approves the WisdomTree XRP Trust ETF, it would be the first of its kind in the United States.
In December 2024, the company submitted its S-1 filing for the spot XRP ETF to the US SEC. At the time, it hinted at its intention to list the fund on the Cboe BZX Exchange. Upon approval by the US SEC, Bank of New York Mellon Corp. (NYSE: BK) will serve as the trustee, fund accountant, and transfer agent for the trust.
The proposed fund aims to offer investors the platform to track XRP’s market price via the CME CF Ripple-Dollar Reference Rate. Ultimately, they gain XRP exposure through traditional brokerage accounts, bypassing the need for private keys or self-custody. Since that December, WisdomTree has been awaiting a decision from the SEC on the filing.
The agency did not publish its notice under Release No. 34-103124 until May 27, 2025. This document initiates a more thorough evaluation of the application. From the day of publication, the Commission has up to 240 days to approve or reject the WisdomTree XRP Trust filing.
The SEC is now open to receiving public comments on whether or not the design of the proposed ETF is compliant with investor protection and market manipulation.
Apart from WisdomTree, other fund managers have filed to list spot XRP ETFs in the US. These include 21Shares, Bitwise, Grayscale Investments, and Canary Capital, all of which are still awaiting the SEC’s decision on their individual filings.
On May 1, the chances for approval for XRP ETFs hit 85%, up from 65% two months earlier. Based on this sentiment, analysts project that the higher the chance of approval, the better the likelihood of XRP price going up. The coin was traded for $2.30, following a 0.66% 24-hour price dip.
These analysts think an approval from the SEC could serve as a catalyst for a potential upside for the Ripple-associated crypto. Popular crypto analyst Ali Martinez has made a bold prediction of a rally to $15 and beyond. Martinez believes the XRP price has broken out of the symmetrical triangle pattern in a multi-year chart trend formation since 2018.
This is why $XRP can still reach $15! pic.twitter.com/vkIiR0rnpU
— Ali (@ali_charts) March 14, 2025
He projects that a consistent bullish support moving ahead could trigger XRP to rally further to $15. Another analyst, Allincrypto, is even more confident, predicting an even bolder price target of $19.27.
🚨Bloomberg analysts have given 85% odds to $XRP ETF launches this year notwithstanding futures ETFs already given launch dates. Here's an update on the price chart and where XRP may be heading in 2025. pic.twitter.com/7FmCemyHHK
— ALLINCRYPTO (@RealAllinCrypto) April 30, 2025
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
