WisdomTree Files Application to Issue a Spot XRP ETF
WisdomTree has submitted a Form S-1 to the US Securities and Exchange Commission (SEC) for the launch of a spot XRP exchange-traded fund (ETF). This makes WisdomTree the fourth company in the US to file for a spot XRP ETF.
Named the WisdomTree XRP Fund, this new fund will allow investors to gain exposure to XRP’s price through shares listed on the Cboe BZX Exchange.
The ETF will use the cash-create method for share creation and redemption, with the potential for the in-kind model after receiving additional approvals. The fund’s prime execution agent and XRP custodian will be Coinbase Global affiliates.
WisdomTree has previously collaborated with Coinbase for its WisdomTree Bitcoin Fund, which began trading in January alongside other spot Bitcoin ETFs.
In its filing, WisdomTree noted that Coinbase plays a significant role in supporting the US spot XRP exchange-traded product ecosystem as it serves as the XRP custodian and prime execution agent for various competing exchange-traded XRP products.
