Leading American crypto IRA platform iTrustCapital recently highlighted the upcoming launch of XRP ETFs and shared key insights to inform investors about this potential development.
Following the approval of several Bitcoin and Ethereum spot ETFs earlier this year, investors speculated that XRP could be the next token to receive the SEC’s blessing for an ETF.
This speculation has gained momentum recently as several asset managers have filed separate applications to launch XRP-pegged ETFs. Bitwise became the first asset manager to file an S-1 with the SEC for a spot XRP ETF on October 2nd.
Subsequently, Canary Capital followed suit and submitted its own XRP ETF application a week later, precisely on October 9, 2024. Asset managers 21Shares and WisdomTree followed suit and announced their intention to launch XRP ETFs in the US, while 21Shares filed its S-1 filing on November 1st, WisdomTree filed on December 2nd.
Meanwhile, asset managers such as Grayscale Investments and Bitwise are also trying to launch ETF baskets tied to multiple cryptos, including XRP.
Basic information about inbound XRP ETFs
Given the growing momentum surrounding the potential launch of XRP ETFs, iTrustCapital provided a comprehensive overview of the product. It defines an XRP ETF as an investment vehicle that tracks the price of XRP and holds the underlying asset on behalf of investors.
The place $XRP The ETF is expected to launch soon! 👀
â–º Here’s what you need to know before publishing: pic.twitter.com/xwoz7vfXL6
– iTrustCapital (@iTrustCapital) December 26, 2024
Advantages and disadvantages of XRP ETF
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