Global ETF provider WisdomTree has recently registered in Delaware for an XRP exchange-traded fund (ETF). The report comes from Fox Business journalist Eleanor Terret, who confirms a legitimate filing by the company.
WisdomTree currently has over $100 billion in managed assets, and this move signals a significant endorsement of XRP and its potential in the mainstream financial market. This is a huge development for Ripple as the ETF could facilitate the exposure of XRP to traditional investors. Furthermore, if the exchange-traded fund gains popularity — it could reflect on a boost in the currency’s liquidity. a
XRP Surges After ETF Filing
Only moments after the reports of the new XRP ETF arrived, the currency reverted to its intra-day sluggish performance. Over the past hour alone, $XRP gained 5.45% in value.
At this time of writing, the asset trades at $1.48 according to CoinMarketCap. Overall XRP marks a near 9% increase over the past 24 hours.
Currently trading near the $1.50 level, XRP now looks to regain its 2021 high of above $1.70. With Donald Trump expecting to take office in January, and a new SEC Chair to be announced any time soon, the altcoin is definitely one of the assets that could see the most value gained in the upcoming months.
