The American Securities and Exchange (SEC) commission officially launched a Wisdomtree XRP Trust examination, a proposed stock market (ETF) project that would provide investors with an exposure to XRP XRP.
Placed by CBOE BZX exchange, the application marks the first official SEC review of an XRP XRP based on the United States. If it is approved, it would be the first XRP ETF in the United States – an important step that could open the door to similar products through other cryptographic assets.
The product would follow the price of the XRP market via the CME reference rate CF Ripple-Dollar, allowing investors to obtain XRP exposure via traditional brokerage accounts, by bypassing the need for private keys or self-care.
The SEC published its opinion under version n ° 34-103124, initiating a more in-depth assessment of the request. The Commission now has up to 240 days to approve or reject the file.
In the meantime, the agency requests public comments on the question of whether the design of the FNB responds adequately to the concerns related to market manipulation and the protection of investors.
Meanwhile, in a letter submitted to the Cryy Crying Working Group this week, the Legal Director of Ripple, Stuart Alderoty, reiterated that XRP should not be treated as security in itself.
“The rules must be clear not only for transmitters, but for all market players who could be involuntarily classified as exchanges of securities, brokers, dealers or issuers,” wrote Alderoty, adding that dependence on vague terms like “fully functional” or “decentralized” creates more regulatory confusion than the Clarity.
