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MEMX Seeks SEC Approval to List 21Shares XRP ETF
In a recent development, MEMX, a U.S.-based securities exchange, has filed with the Securities and Exchange Commission (SEC) to list an XRP exchange-traded fund (ETF). The proposed ETF is structured as a “Commodity-Based Trust,” a model that has been utilized for Bitcoin and Ethereum ETFs.
This filing marks another significant step by a U.S. exchange in offering an ETF containing spot XRP, the native token of Ripple’s XRP Ledger blockchain. The decision to file comes at a time when interest in crypto ETFs is on the rise, following a crucial legal ruling that deemed XRP not automatically considered a security.
As multiple exchanges explore opportunities to offer similar products, the buzz surrounding these ETFs has reached new heights. Currently, 15 different ETFs are vying for approval, with each exchange competing to secure listing rights. The prospect of the SEC’s approval of these ETFs has sparked widespread speculation that institutional demand will surge, potentially triggering massive buying activity and propelling XRP’s value to unprecedented levels.
Grayscale, a digital asset firm, is actively working on launching its own spot XRP ETF. NYSE Arca recently filed a form with the SEC to list Grayscale’s XRP Trust as an ETF. This commences a 240-day review period, with a decision expected by mid-October 2025. The SEC confirmed receipt of the application on February 14, 2025.
As significant players in the market, including whales, have been acquiring millions of XRP over recent months, anticipation for the approval of XRP-based Exchange Traded Funds has reached an all-time high. With institutions increasingly focusing on XRP and the SEC’s Ripple case nearing its conclusion, sentiment surrounding XRP has never been stronger. Those within the digital assets space are preparing for what could be a historic run, with some experts predicting prices to break records and potentially challenge Bitcoin’s dominance.
Note: This article was written using data from February 18, 2025.
Source: coinpedia.org
