The push for XRP exchange-traded funds (ETFs) is gaining momentum as asset managers make headway with their applications, bringing these investment products closer to reality.
On Thursday, the Cboe BZX Exchange officially submitted the pivotal 19b-4 forms to the SEC on behalf of Canary Capital, Bitwise Investments, WisdomTree, and 21Shares, seeking regulatory approval to launch XRP ETFs. This filing marks the next step in the process following the initial S-1 filings submitted by the issuers.
What are 19b-4 Forms, and Why Do They Matter?
The 19b-4 forms play a crucial role in requesting approval from the U.S. SEC for the listing and trading of the XRP ETFs on the Cboe BZX Exchange. Basically, it’s the exchange saying, “We want to list this product – here’s how it will work.”
This submission follows an earlier report from FOX Business News’ Eleanor Terrett, who hinted at further developments on pending XRP ETF applications this week. Her prediction is now unfolding, with the latest filing of the 19b-4 forms for XRP ETFs.
Related: Trump’s SEC Team Boosts Spot XRP ETF Approval Odds to 70%
In a tweet, Terrett emphasized that the filing of these forms does not guarantee approval, as the SEC holds the discretion to make the final decision. Once the SEC acknowledges the receipt of the filings, it has a 240-day window to decide whether to approve or reject the ETFs.
This filing follows the SEC’s recognition of similar filings for Litecoin (LTC) ETFs from Canary Funds and Grayscale.
Ripple CEO Comments, Community Excitement
The recent news regarding XRP ETFs has sparked excitement within the XRP community. Ripple CEO Brad Garlinghouse shared his thoughts on X (formerly Twitter), suggesting the countdown to launch has begun.
Notable figures, like “Digital Asset Investor,” also seized the opportunity to remind the crypto community not to underestimate XRP and its potential. “Your grandkids’ grandkids will be talking about how you saw where XRP was going when everyone said you were crazy,” he remarked.
Related: BlackRock Dismisses XRP ETF Idea: Here’s Why, According to Company Executive
Ultimately, the outcome of this filing could have profound implications for the future of XRP in the investment space. If approved, an XRP ETF would make it easier for traditional investors to gain exposure to the cryptocurrency, further solidifying its position in the broader financial markets.
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