21Shares, an asset management firm, has taken a significant step by filing Form S-1 with the United States Securities and Exchange Commission (SEC) to launch and manage a spot XRP Exchange-Traded Fund (ETF). This move positions 21Shares as the third company seeking approval for an XRP ETF, trailing behind Canary Capital and Bitwise who have also made similar filings.
The application marks a crucial development in the realm of cryptocurrency ETFs as firms aim to provide easier access to XRP through mainstream financial channels. If approved, this ETF would allow investors to trade XRP on traditional stock exchanges, contributing to greater liquidity and potentially increased adoption of the cryptocurrency.
