As a seasoned researcher with a penchant for blockchain technology and its applications, I find the recent move by 21Shares to enter the XRP ETF race quite intriguing. With my years of experience in this dynamic field, I’ve seen numerous attempts to bring cryptocurrencies into mainstream investing, and this is yet another significant step towards that goal.
As a passionate crypto investor, I’m thrilled to learn that 21Shares, a well-respected player in the ETF market, has entered the competition for an XRP-based ETF. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), they’ve officially joined the race. This could potentially open up new opportunities for us in the XRP sector.
Should it get approved, the newly suggested 21Shares Core XRP Trust will become available for trading on the Cboe BZX Exchange.
The product will track the performance of the XRP token based on the recently launched CME CF Ripple-Dollar Real-Time Index (XRPUSD_RTI).
21Shares explains that their ETF aims to offer investors an economical route to gain exposure to XRP, as opposed to buying and keeping the associated XRP token personally.
Personally speaking as a crypto investor, I find it reassuring that the latest filing clarifies XRP is not classified as a security. To my understanding, this implies that the SEC will not contest the legal status of this contentious token amidst the ongoing appeal process in the Ripple case, as reported by U.Today.
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2024-11-01 19:32