Asset managers pursuing XRP exchange-traded funds (ETFs) have reached a critical milestone, signaling potential approval on the horizon.
On Thursday, Cboe BZX Exchange submitted pivotal 19b-4 forms to the U.S. Securities and Exchange Commission (SEC) for XRP ETFs proposed by Bitwise Investments, Canary Capital, WisdomTree, and 21Shares. This step follows their initial S-1 filings and advances the regulatory review process.
Understanding the 19b-4 Forms for XRP ETFs
The 19b-4 forms formally request SEC permission to list and trade XRP ETFs on Cboe BZX Exchange. These filings align with earlier reports from FOX Business News correspondent Eleanor Terrett, who anticipated progress this week.
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Terrett noted that submission doesn’t guarantee approval. The SEC has 240 days to decide after acknowledging receipt. The agency recently reviewed similar filings for Litecoin (LTC) ETFs, fueling speculation about imminent XRP ETF feedback.
Ripple CEO Brad Garlinghouse’s Reaction
Ripple CEO Brad Garlinghouse responded optimistically, implying the countdown to an XRP ETF launch is underway. His tweet—"⏰"—hints at growing urgency and market readiness.
"Your grandkids’ grandkids will talk about how you recognized XRP’s potential early."
— Digital Asset Investor
Community figures emphasized XRP’s long-term value, urging investors not to overlook its potential. ETF approval could democratize access to XRP, bridging traditional finance and crypto markets.
FAQs About XRP ETFs
1. What are 19b-4 forms?
They’re SEC submissions for rule changes to list new securities, like ETFs, on exchanges.
2. How long does SEC approval take?
The SEC has up to 240 days to decide after acknowledging filings.
3. Why is an XRP ETF significant?
It would enable institutional and retail investors to gain exposure to XRP without directly holding the asset.
4. Which firms are leading XRP ETF applications?
Bitwise, Canary Capital, WisdomTree, and 21Shares are key applicants.
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Key Takeaways
- Progress: 19b-4 filings mark a regulatory leap forward.
- Community Optimism: Leaders like Garlinghouse see momentum building.
- Market Impact: Approval could catalyze mainstream XRP adoption.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conduct independent research before investing.
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