21Shares has taken a bold step by filing for an XRP ETF with the SEC, amidst legal challenges faced by Ripple. The registration application for the 21Shares Core XRP Trust was submitted on November 1, with plans for it to be listed on the Cboe BZX Exchange, under the custody of Coinbase Custody Trust Company.
This move aligns 21Shares with other companies like Canary Capital and Bitwise, all awaiting approval from the SEC for similar funds. The interest in crypto-based ETFs in the North American market seems to be growing, indicating a potential expansion in this sector.
Despite Ripple’s ongoing lawsuit with the SEC, 21Shares remains dedicated to providing U.S. investors with access to the cryptocurrency asset class. The company’s spokesperson emphasized their commitment to innovation in the U.S. market.
The legal battle between Ripple and the SEC involves allegations of unregistered securities sales amounting to over $1.3 billion in XRP. While some XRP sales were deemed legal, direct sales to institutional investors were classified as securities, resulting in a $125 million fine for Ripple in August.
As of now, the price of XRP stands at US$0.5115, showing a 1.5% increase in the last 24 hours.
Disclaimer: The information provided in this article, including views and opinions, is for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.