The cryptocurrency XRP Token (CRYPTO: XRP) from Ripple is soaring in price over the last week with a new filing for an XRP exchange-traded fund adding to optimism for the crypto.
What Happened: Asset manager WisdomTree filed to establish a trust entity as part of a step towards launching a potential XRP ETF.
The move follows other companies like Bitwise that have filed to launch cryptocurrency ETFs.
With Bitcoin and Ethereum ETFs already approved, cryptocurrency experts see ETFs based on other top 10 cryptos by market capitalization like Solana, Dogecoin and XRP as the next to be approved.
Ripple Labs, the issuer of XRP, has been involved in several regulatory issues with the U.S. Securities and Exchange Commission (SEC) previously, which could impact the approval of the ETFs and has also impacted the price of XRP in the past.
With SEC Chairman Gary Gensler set to resign in January and a new pro-crypto White House administration potentially taking shape, some see past cases against …
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