SEC Opens Public Feedback Period for WisdomTree’s XRP ETF Application

The U.S. Securities and Exchange Commission (SEC) has officially acknowledged the application from WisdomTree to list and trade exchange-traded fund (ETF) shares for an XRP trust. This pivotal moment is crucial for both the company and investors as it confirms the growing interest in cryptocurrency-based financial products.

With this acknowledgment, the SEC has initiated a 21-day public comment period allowing stakeholders, industry experts, and the general public to voice their opinions on how the agency should proceed with WisdomTree’s application. It marks a significant step in a broader trend of increasing regulatory acceptance of cryptocurrency ETFs. This public feedback period opens a channel for constructive dialogue about the potential implications of such financial products on the market.

In recent days, multiple XRP ETF applications have been queued in the Federal Register, indicating a surge in interest from different entities seeking to gain a foothold in the cryptocurrency investment landscape. Notably, the SEC has also responded to various filings from other leading firms in the crypto space, such as Bitwise, CoinShares, and Grayscale, further evidencing the shifting regulatory environment under the current SEC leadership.

Institutional confidence in the crypto sector is on the rise, especially following the return of former President Donald Trump to the White House. Changes within Trump’s administration have reportedly shifted the SEC’s regulatory approach, diverging from the more stringent policies of former chair Gary Gensler. Under acting chair Mark Uyeda, recent initiatives by the SEC, including the formation of a dedicated Crypto Task Force, suggest a more favorable view of digital assets. The task force, comprised of crypto-friendly SEC commissioners, aims to develop new strategies for overseeing the evolving digital landscape.

As public feedback is collected, the SEC will evaluate the responses before reaching a decision on whether to approve, reject, or postpone their ruling on WisdomTree’s XRP ETF application. This decision will not only impact WisdomTree but could also significantly influence the trajectory of future cryptocurrency ETFs and the market at large.