The US Securities and Exchange Commission (SEC) has begun examining a new proposal for a spot XRP exchange-traded fund (ETF). The application was submitted by asset manager WisdomTree.

If approved, this would be the first spot XRP ETF in the country. The product is designed to allow investors to gain exposure to XRP without directly owning the digital asset.

SEC Reviews First Spot XRP ETF

The SEC has opened a public comment period. It is seeking views on possible market manipulation and how investors would be protected. The agency has up to 240 days to make a final decision.

The review process is being closely watched. The outcome could indicate how the SEC may treat crypto assets beyond Bitcoin and Ethereum. XRP’s overall market reaction was limited, as uncertainty around US crypto regulation remains.

XRPUSD H1 Chart, Source: TradingView
XRPUSD H1 Chart, Source: TradingView

As of writing, XRPUSD is traded around 2.28500, where the price has bounced several times.

You may find it interesting at FinanceMagnates.com: XRP Price Could Reach $8 in 2025, According to Latest XRP/USDT Technical Prediction.

WisdomTree Pushes Forward with XRP ETF

The application comes after the SEC approved several spot ETFs for Bitcoin and Ethereum. Industry participants are now watching to see whether XRP will be next. WisdomTree is among a group of firms pushing to expand crypto investment products in the US.

SEC Accepts $50 Million Ripple Settlement

Meanwhile, the legal dispute between Ripple and SEC has concluded with a settlement. Ripple agreed to pay a $50 million penalty, significantly lower than the $2 billion initially sought by the SEC.

The SEC alleged Ripple raised over $1.3 billion through unregistered XRP sales. A court ruled that some sales violated securities laws, while others did not. The SEC will return over $75 million held in escrow to Ripple. The settlement was announced shortly after Paul Atkins became SEC Chair.

Source: Finance Magnates