WisdomTree Files an S-1 Registration with SEC for XRP ETF

WisdomTree has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF).

The filing positions the asset manager among a growing list of firms aiming to introduce XRP-based investment products.

According to a December 2 filing, the Bank of New York Mellon will act as the administrator for the proposed trust.

WisdomTree’s ETF Aims to Track Price of XRP

The ETF aims to track the price of XRP, the third-largest cryptocurrency by market capitalization.

While details regarding the exchange venue and ticker symbol remain undisclosed, the filing signals WisdomTree’s intent to expand its crypto-focused offerings.

WisdomTree joins other asset managers, such as Bitwise and Canary Capital, which have also submitted applications for XRP ETFs earlier this year.

The company recently established a trust entity in Delaware to support the fund’s creation.

The filing comes as Ripple Labs continues its legal battle with the SEC over XRP’s regulatory status, leaving the approval of such products uncertain.

However, industry analysts speculate that SEC Chair Gary Gensler’s expected resignation could pave the way for a more favorable regulatory environment, potentially easing the path for XRP-based ETFs under new leadership.

🚨NEW: @WisdomTreeFunds officially files an S-1 with the @SECGov for an $XRP spot ETF.

WisdomTree joins @BitwiseInvest, @21Shares and @CanaryFunds in applying for an fund that tracks the daily price of $XRP. pic.twitter.com/fIWiUuFpeR

— Eleanor Terrett (@EleanorTerrett) December 2, 2024

Last week, Bitwise Asset Management unveiled the rebranding of its European XRP ETP, now named the Bitwise Physical XRP ETP (GXRP), as part of an expansive update to its European product offerings.

The rebranded ETP initially launched in 2022 under the name ETC Group Physical XRP, represents Bitwise’s strategic efforts to strengthen its presence in Europe following its acquisition of the ETC Group earlier this year.

Ripple, the blockchain company behind XRP, has also announced plans to invest in this revamped product.

In another development, the New York Department of Financial Services (NYDFS) is reportedly poised to approve Ripple Labs’ RLUSD, an overcollateralized stablecoin pegged to the U.S. dollar.

Ripple is preparing for a potential launch as early as December 4.

Bitcoin ETFs See $6.4 Billion in Inflows in November

November was a historic month for Bitcoin exchange-traded funds (ETFs) in the United States, with investors pouring $6.4 billion into spot BTC ETFs.

The surge in inflows coincided with a month-long rally that saw Bitcoin’s price soar by 45%, reaching an all-time high of $99,000.

Data from Farside Investors revealed that BlackRock’s iShares Bitcoin Trust ETF dominated the inflows, accounting for $5.6 billion—or nearly 87%—of the total.

Other major contributors included Fidelity’s Wise Origin Bitcoin Fund, which attracted $962 million, Grayscale’s Bitcoin Mini Trust ETF with $211.5 million, and the VanEck Bitcoin ETF at $71.2 million.

The bullish momentum was driven by strong market sentiment, with Bitcoin’s price climbing from $68,000 at the start of November to its record-breaking peak.

Analysts believe the consistent inflow of funds from both institutional and retail investors will sustain the ongoing rally as Bitcoin enters a critical price discovery phase.

Despite the inflows, some ETFs recorded significant outflows, totaling $411 million.

The Grayscale Bitcoin Trust ETF led the losses, with $364 million in outflows, followed by Bitwise Bitcoin ETF at $40.4 million and Valkyrie Bitcoin Fund at $6.8 million.