WisdomTree files for XRP ETF as regulatory changes loom

WisdomTree Funds, a New York-based asset management firm, has filed for an XRP (CRYPTO:XRP) exchange-traded fund (ETF) in Delaware, signaling its intent to seek approval from the United States Securities and Exchange Commission (SEC).  

The filing, dated November 25, positions WisdomTree alongside firms like Bitwise, Canary Capital, and 21Shares in pursuing an XRP ETF.  

Despite growing interest, no XRP ETF applications have been approved by the SEC to date.  

WisdomTree’s filing follows Ripple’s partial legal victory in July 2023, when a court ruled that XRP is not a security.  

However, the SEC filed an appeal in October 2024, with proceedings now delayed until January 2025.  

The landscape for cryptocurrency regulation in the U.S. could undergo significant changes following Donald Trump’s victory in the 2024 presidential election.  

Trump’s campaign emphasised making the U.S. a hub for Bitcoin (CRYPTO:BTC), cryptocurrency, and blockchain innovation.  

Analysts speculate that his administration may adopt a more crypto-friendly stance, potentially dismissing longstanding SEC lawsuits, including the case against Ripple.  

If this shift materialises, it could expedite the approval of XRP ETFs and other crypto-related financial products.  

Trump’s criticism of the current administration’s handling of cryptocurrency, coupled with expected conservative appointments in key financial positions, suggests a departure from the policies under SEC Chair Gary Gensler.  

As part of its strategy, WisdomTree’s state-level filing could be an early step in preparing for a more favorable regulatory environment.  

The company aims to position itself at the forefront of the anticipated changes, with analysts predicting that these developments may pave the way for accelerated approval of XRP ETFs.  

At the time of reporting, the XRP price was $1.45.