WisdomTree, a pioneer in the issuance of spot Bitcoin ETFs in the United States, has now filed to launch a spot ETF backed by XRP.
In their latest filing with the US Securities and Exchange Commission on December 2nd, they have become the fourth company to submit a Form S-1 for an XRP ETF. The ETF, named the WisdomTree XRP fund, will provide investors with exposure to XRP’s price through listed shares on the Cboe BZX Exchange.
If approved by the SEC, the fund will issue and redeem shares using the cash method, with the potential for an in-kind model in the future pending further approvals.
Both the prime execution agent and XRP custodian will be affiliates of leading US cryptocurrency exchange Coinbase Global, according to the filing.
