SEC Reviews WisdomTree’s XRP ETF Application Amid Growing Market Anticipation

WisdomTree Among Several Firms Seeking XRP ETF Approval

WisdomTree has filed its second venture into crypto ETFs, seeking to list on the Cboe BZX Exchange. This filing, however, lacks standard details like custodian information. The firm’s pursuit aligns with several other asset managers competing for SEC’s nod on XRP ETFs.

Other notable players include Bitwise Asset Management and Franklin Templeton, both under SEC’s extended review periods. ProShares Trust has already secured approval for an April 2025 launch, influencing market actions.

SEC Extensions Influence XRP Price Amidst Optimism

Market sensitivity was observed as the SEC extended Franklin Templeton’s review, leading to XRP’s price drop below $2.30 temporarily. XRP enthusiasts remain optimistic about future pricing if ETF approvals come through.

Financial analysts foresee positive shifts in XRP’s value contingent on ETF approval, predicting prices could exceed $5. “Approval [of XRP ETFs] is anticipated in the second half of 2025,” said Brad Garlinghouse, CEO, Ripple.

Analysts Draw Parallels with Bitcoin ETF Approvals

The SEC’s current considerations come following its approval of Bitcoin and Ethereum ETFs, setting a new path for cryptocurrency exchange-traded funds. Past SEC procedures show that review extensions may not predict negative outcomes.

Market observers recall parallels with Bitcoin ETF decisions, where procedural delays did not hinder eventual approvals. Similar trends suggest potential positive outcomes for XRP ETFs in the future.