21Shares has taken a significant step in the cryptocurrency market by filing Form S-1 with the U.S. Securities and Exchange Commission (SEC). This filing is part of their efforts to list and trade shares of a spot XRP Exchange-Traded Fund (ETF).
The firm now stands as the third entity seeking to introduce a spot XRP ETF in the market. Prior to 21Shares, both Canary Capital and Bitwise made similar applications, highlighting a growing interest in creating new investment avenues within the cryptocurrency sphere.
Spot ETFs differ from other types in that they are designed to closely track the current price of the underlying asset, in this case, XRP. This could potentially offer investors a direct exposure to the price movements of XRP without holding the actual cryptocurrency.
