Spot XRP ETF is coming? The U.S. Securities and Exchange Commission just kicked off its very first formal review of a spot XRP ETF application.

Yeah, spot XRP, not futures, the real deal. This move could be a massive win for the XRP crowd, especially after Ripple’s long, let me say this, exhausting legal dance with the SEC.

You remember that story, right? Years of courtroom drama, accusations flying, and now, maybe, a fresh start.

Veteran issuers on the starting line

The SEC filed paperwork saying it’s officially considering whether to greenlight the WisdomTree XRP ETF to trade on the Cboe BZX Exchange.

WisdomTree, for those who don’t know, is no rookie, they’re the people behind some of the first spot Bitcoin ETFs in the U.S. They’re trying to bring that same magic to XRP.

Prepare for a long decision

But, and this is a big but, the SEC isn’t just handing out approvals like candy. They’re scrutinizing whether this ETF can keep the market clean, free from fraud and shady moves.

They want to make sure investors are protected and that the whole thing serves the public’s best interest.

The SEC even hinted there might be new issues popping up that they haven’t tackled before.

So, they’re asking the public to weigh in, to send their two cents on whether this ETF should see the light of day or get shut down.

Now, don’t get your hopes too high just yet. Starting this review doesn’t mean the SEC’s gonna say yes.

They’ve got around 240 days to mull it over. That’s a long wait, like watching paint dry on a summer day.

Massive market

WisdomTree’s ETF wouldn’t be the first XRP-related fund in the U.S. Just last month, Teucrium, a Vermont-based asset manager, launched the first leveraged XRP ETF on NYSE Arca.

And ProShares jumped in with three futures ETFs offering leveraged and inverse XRP exposure.

But those are futures-based, derivatives, not the actual spot XRP. This spot ETF approval would open the door for more products like it, a real milestone for XRP fans.

Think about it. After Ripple’s bruising legal battle with the SEC, this could be the fresh start the community’s been waiting for.

It’s like finally getting the nod from the boss after years of tough negotiations.

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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