WisdomTree filed with the US Securities and Exchange
Commission (SEC) to launch a spot XRP exchange-traded fund (ETF) today (Monday).
This makes WisdomTree the fourth company in the US to submit a Form S-1 for a
spot XRP ETF.

The new fund, called the WisdomTree XRP Fund, aims to give
investors exposure to XRP’s price through shares listed on the Cboe BZX
Exchange.

WisdomTree Partners with Coinbase

The ETF will utilize the cash-create method for share
creation and redemption, with the in-kind model possible after additional
approvals. Coinbase Global affiliates will serve as the fund’s prime execution
agent and XRP custodian.

🚨 BREAKING:WISDOMTREE OFFICIALLY FILES S-1 FOR ITS SPOT #XRP ETF! 📈 pic.twitter.com/i1c6qKd03d

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) December 2, 2024

WisdomTree previously worked with Coinbase for its
WisdomTree Bitcoin Fund, which began trading in January alongside other spot
Bitcoin ETFs.

“Coinbase serves as the XRP custodian and prime execution
agent for several competing exchange-traded XRP products and, as such, plays a
critical role in supporting the US spot XRP exchange-traded product ecosystem,”
WisdomTree’s filing mentioned.

Finance Magnates
previously reported that WisdomTree
filed for an XRP ETF in Delaware on November 25. The filing occurred as
XRP’s price surged to its highest levels since 2021.

Although state-level filings are generally preliminary, this
step reflected WisdomTree’s intention to deepen its involvement in crypto
markets amid regulatory challenges faced by Ripple with the SEC.

Spot XRP ETF Filings

Other companies, including Bitwise, Canary Capital, and
21Shares, have also filed for spot XRP ETFs. Bitwise was the first to file,
submitting its Form S-1 for the Bitwise XRP ETF in October. Canary Capital
followed on October 9, and 21Shares filed for its Core XRP Trust on November 1.

Unlike the spot XRP ETFs, the Core XRP Trust does not provide direct exposure
to XRP but allows indirect market access.

This article was written by Tareq Sikder at www.financemagnates.com.