WisdomTree’s XRP ETF Approval Bid Gains Momentum with SEC Review

The post WisdomTree’s XRP ETF Approval Bid Gains Momentum with SEC Review appeared first on Coinpedia Fintech News

XRP is making noise in the market again, now trading around $2.30. Investors are getting bullish as excitement builds over a potential U.S. spot ETF approval. The market is responding with optimism, seeing the move as a major step toward broader institutional access and legitimacy for the token. Though XRP cleared the securities tag partially, a final court judgement is awaited; however, the pace SEC is going with XRP ETFs, it seems all is under control and approval is on the way. 

SEC Opens Door for XRP Spot ETF

The U.S. Securities and Exchange Commission (SEC) has officially started reviewing the WisdomTree XRP Trust, a proposed spot ETF that would allow investors to gain exposure to XRP without owning the token directly. This would be the first U.S.-based spot XRP ETF, potentially laying the groundwork for other crypto ETFs in the future.

Filed by Cboe BZX Exchange, the ETF aims to mirror the price of XRP via the CME CF Ripple-Dollar Reference Rate. If approved, it would enable XRP trading through traditional brokerage accounts, eliminating the need for crypto wallets or private keys.

Investor Protection at Play

As part of the process, the SEC has published a notice under Release No. 34-103124, calling for public feedback. The agency wants input on whether the product protects investors and how it plans to tackle market manipulation concerns. The Commission has 240 days to decide whether to approve or reject the application.

Also Read :   Ripple News: XRP Price Prediction For May 28   ,

Ripple Pushes Back on ‘Security’ Tag

At the same time, Ripple’s Chief Legal Officer, Stuart Alderoty, fired back at the SEC’s broader crypto stance. In a recent letter to the agency’s crypto taskforce, he urged clearer rules, stating that XRP is not a security. He warned that vague regulatory terms like “decentralized” or “fully functional” only add confusion for both issuers and market participants.

With the SEC’s clock ticking and public comment now open, all eyes are on how the Commission handles this groundbreaking application. For now, bullish sentiment is picking up, and XRP’s rally suggests that traders are betting big on a regulatory breakthrough.