SEC Applauds Bitwise’s Spot XRP ETF Filing Adding to a Filled Record

The U.S. Securities and Exchange Commission acknowledged the registration for Bitwise’s place XRP exchange-traded account submitted by Cboe BZX Exchange on Tuesday, making it the latest in a line of issuers vying to back run anticipated policy shifts to bitcoin under the Trump administration.

If approved, Bitwise’s place XRP ETF would justify XRP as a major investment vehicle, offering a controlled solution for coverage to the world’s third-largest crypto.

When published in the Federal Register, the SEC will allow a 21-day post period on the filing before deciding to review, dispute, or seek more action, with a final decision expected in up to 240 days.

The SEC just acknowledged XRP ETF ideas from Grayscale and 21Shares, a trend that other companies have followed. WisdomTree and Canary Capital’s books are still being reviewed.

Under President Donald Trump’s administration, authorities are on the verge of a new step in the popularity of digital assets due to the SEC’s response to these programs and the increasing amount of bitcoin ETF filings.

The SEC’s decision will depend on the public’s opinions and whether the filing adheres to its investor protection standards. &nbsp,

As of now, XRP remains down 2.9 %, trading at$ 2.53, as per CoinGecko data, despite the increasing optimism surrounding crypto ETFs.

The SEC is also reviewing Bitwise’s plan to manage the trust’s assets and mitigate manipulation risks.

This includes measures like obtaining XRP prices from U.S.-compliant trading platforms and putting in place a creation and redemption procedure to help prevent fraud.

Following the successful launch of Bitcoin and Ethereum ETFs, chatter about ETFs for other digital assets, including Litecoin, XRP, and Solana, has skyrocketed. &nbsp,

In light of the rising interest in crypto-based investment vehicles, Bloomberg ETF analysts James Seyffart and Eric Balchunas have predicted a 65 % approval rating for XRP ETFs.

However, Katalin Tischhauser, Head of Research at Sygnum Bank, has cautioned that not all tokens are created equal, and not all tokens merit an ETF. &nbsp,

” With much of the crypto market seen as speculative or hype-driven, healthy demand is needed for institutional investors to make an allocation”, Tischhauser told .

Tischhauser said if many new ETFs are launched without significant demand, the market could be disappointed, potentially damaging the broader crypto industry. &nbsp,

She explained that” tokens with lower volumes are subject to higher volatility, which could result in greater losses than institutional investors are used to.” This could lead to a decline in the demand for additional crypto assets. ” &nbsp,

While there is increased interest in crypto ETFs, launching them is a” double-edged sword” and requires careful consideration, Tischhauser remarked.