Asset management company 21Shares has submitted a request to the United States Securities and Exchange Commission for a spot XRP exchange-traded fund (ETF).
The filing, made on November 1, outlines the company’s plan for its Core XRP Trust shares to be listed and traded on the Cboe BZX Exchange.
Unlike directly investing in XRP, the trust offers an “indirect access” to the market. If the approval is granted, the investment vehicle’s XRP will be held by the Custodian Trust Company. Other firms, such as Bitwise, have previously filed for their XRP ETFs.
The SEC has approved ETFs for Bitcoin and Ether in 2024, but has not yet responded to XRP ETF filings, possibly due to the ongoing lawsuit with Ripple Labs.
