21Shares Files For XRP ETF With US SEC

21Shares has become the latest asset manager to file with the US Securities and Exchange Commission (SEC) to offer an XRP ETF. This again mounts pressure on the Commission to finally respond to the pending applications from the other asset managers who have applied to offer this fund.

21Shares Files For XRP ETF With US SEC

The asset manager filed with the US SEC to offer the ’21Shares Core XRP TRUST,’ which will track the performance of the XRP coin and offer institutional investors a means to gain exposure to the crypto. 21Shares joins Bitwise and Canary Capital, which have already filed their registration statements with the Commission to offer an XRP ETF.

It is worth mentioning that 21 Shares had previously filed with the US SEC to offer a Spot Solana ETF, although that application looks to have been rejected. The Commission still has doubts over Solana’s security status.

However, the application for the XRP ETF could take a different turn considering that XRP has already gained regularity clarity, with Judge Analisa Torres declaring that XRP isn’t a security in itself. Moreover, the US SEC didn’t appeal this decision in its appeal against Ripple, indicating that they have accepted XRP’s non-security status. Interestingly, 21shares’s ETF application just comes following the Court of Appeals’ first order in the XRP lawsuit.

Meanwhile, it is worth mentioning that 21Shares is no newcomer to the XRP ecosystem. The asset manager already offers the 21Shares Ripple XRP ETP (AXRP), a crypto ETF domiciled in Switzerland. The fund tracks XRP’s performance and provides investors exposure to the crypto.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

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