Cboe Files Proposals for Spot XRP ETFs
The Chicago Board Options Exchange (Cboe) took a significant step on Thursday by submitting 19b-4 filings to the US Securities and Exchange Commission (SEC) on behalf of Canary Capital, WisdomTree, 21Shares, and Bitwise.
The purpose of these filings is to propose the creation of spot XRP exchange-traded funds (ETFs). This process is vital in obtaining regulatory approval for products such as these, but the submission of the filings does not guarantee approval or indicate any immediate action will be taken.
The 19b-4 filings submitted by Cboe aim to change SEC rules to allow for the listing and trading of these XRP ETFs. This will initiate a 240-day review period during which the SEC can approve, deny, or extend their decision-making process.
Unlike Bitcoin and Ethereum, which have established futures markets on the CME that have made the ETF approval process smoother, XRP does not have a similar market.
