MEMX, a US-based securities exchange, has filed a request with the Securities and Exchange Commission (SEC) for approval to list an XRP ETF.
The proposed ETF will be structured as a “Commodity-Based Trust,” similar to existing models for Bitcoin and Ethereum ETFs.
This filing represents the latest attempt by a US exchange to offer an ETF that includes spot XRP, the native token of Ripple’s XRP Ledger blockchain.
The decision to submit this filing follows increasing interest in crypto ETFs and a significant legal ruling in favor of Ripple, which clarified that XRP is not automatically classified as a security.
