
CBOE Files 19b-4 Application for XRP ETF, Fund Managers Start the ETF Race
In a significant development, the CBOE (Chicago Board Options Exchange) has filed a 19b-4 application to list a new XRP ETF. This move comes after months of anticipation and speculation regarding the potential approval of an XRP ETF.
The filing is a major breakthrough for Ripple enthusiasts as it marks a crucial step towards the availability of a spot XRP ETF. As we previously reported, the CBOE had expressed interest in listing a crypto-based product last year.
The proposed ETF would allow institutional investors and individual traders to gain exposure to the XRP market through a regulated exchange-traded fund. This could potentially increase demand for XRP as ETF issuers need to accumulate the underlying asset to back the ETFs, similar to what we saw with Bitcoin (BTC) when spot Bitcoin ETFs were approved last year.
Fund managers are now scrambling to capitalize on this opportunity by launching their own XRP ETFs. This could lead to a proliferation of new XRP-based investment products and increase liquidity in the market.
The CBOE’s move follows the recent shift in policy at the Securities and Exchange Commission (SEC), led by Acting Chairman Mark T. Uyeda. Under his leadership, the regulator has taken a more lenient stance on altcoins, dropping lawsuits against major cryptocurrency firms like Coinbase, Unicorn, and Robinhood Crypto.
While this development is significant, it’s essential to note that an XRP ETF approval is still subject to rigorous scrutiny from the SEC. The regulator will carefully review the filing and consider various factors before making a decision.
In any case, the CBOE’s application underscores the growing recognition of cryptocurrencies like XRP as viable investment opportunities for retail and institutional investors alike.
Stay tuned for further updates on this story!
Source: https://u.today/franklin-xrp-etf-proposed-to-be-traded-by-cboe-bzx-through-19b-4-filing