WisdomTree has recently filed an application to launch a spot ETF that will be backed by XRP.
The application, filed with the SEC on Dec. 2, makes WisdomTree the fourth company to seek approval for a spot XRP ETF.
The new WisdomTree XRP fund, if approved, will allow investors to gain exposure to the price of XRP through issuing shares listed on the Cboe BZX Exchange.
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The fund will use either a cash creation method or an in-kind model to create and redeem shares, with the latter requiring additional approvals.
The filing also notes that both the prime execution agent and XRP custodian are affiliates of the US crypto exchange Coinbase Global.