WisdomTree Files for XRP ETF Approval, Igniting Market Optimism
Key Highlights:
- WisdomTree has submitted an S-1 filing to the US SEC for XRP ETF approval.
- The move reflects growing confidence in XRP amid evolving US regulatory dynamics.
- XRP price surged over 20% today, surpassing the $2 mark.
WisdomTree’s Push for XRP ETF Approval
WisdomTree has gained attention with its recent S-1 filing for an XRP ETF with the US SEC, boosting optimism within the crypto market. This filing follows XRP’s impressive rally, which has propelled it past the market cap of BNB and USDT, signaling increasing investor confidence in digital assets.
The move aligns with the current regulatory shift in the US following Donald Trump’s election victory, which has sparked anticipation of more crypto-friendly policies. Analysts predict an accelerated approval process for ETFs, particularly for altcoins, under the Republican administration.
Broader Market Context
Ripple CEO Brad Garlinghouse has expressed confidence in XRP’s growth potential, highlighting ongoing discussions with the new administration. Meanwhile, the imminent departure of SEC Chair Gary Gensler in January is expected to pave the way for pro-crypto leadership.
Market participants anticipate faster crypto-specific legislation and institutional adoption under the new regulatory environment. A Coinbase executive even suggested that Trump’s leadership could lead to swift passage of crypto-focused laws, further fueling enthusiasm for projects like WisdomTree’s XRP ETF.
