#What Updates Are Available on the 21Shares XRP ETF Filing?
The latest news from the cryptocurrency landscape highlights 21Shares’ recent update regarding its XRP ETF filing with the SEC. This filing, submitted as an 8(a) document, is designed to track the performance of XRP, officially aiming to list on the Cboe BZX Exchange under the ticker symbol TOXR. Under U.S. securities law, this ETF could become effective automatically after 20 days unless the SEC intervenes.
#How Is the Custody of XRP Managed?
In the prospectus for the 21Shares XRP ETF, it is stated that the custody of XRP will be overseen by three regulated entities. These entities include Coinbase Custody Trust Company, Anchorage Digital Bank, and BitGo Trust Company. Authorized participants such as Jane Street Capital and Macquarie Capital will have the ability to create or redeem shares either for cash or in-kind, offering flexible management options for investors.
#Who Else Is Preparing for ETF Launches?
Besides 21Shares, other asset management firms like Canary Capital, Franklin Templeton, and Bitwise are also making waves with updated filings to the SEC. These firms are gearing up for potential ETF launches as interest in cryptocurrency investment options continues to grow. In addition to XRP ETFs, it's noteworthy that XRP and Dogecoin ETFs seem poised for introduction following the recent launch of Bitwise’s spot Solana ETF and the ETFs relating to Litecoin and HBAR from Canary Capital.
#What Are the Implications for the Market?
There is strong anticipation surrounding the introduction of these cryptocurrency ETFs, particularly given Ripple CEO Brad Garlinghouse's prediction of multiple XRP ETFs launching in the U.S. by the second half of 2025. This timeline is linked to the resolution of ongoing legal issues concerning XRP with the SEC. As these developments unfold, they could signify a strategic opportunity for retail investors interested in diversifying their portfolios with cryptocurrency exposure.