Wisdom Tree Files for $100 Billion XRP ETF
A well-known asset manager and ETF issuer, Wisdom Tree, is making moves by filing for an XRP ETF product. According to reports from Eleanor Terret of Fox News, this $100 billion asset manager has officially registered for an XRP ETF in Delaware.
This news comes on the heels of asset manager 21Shares also filing a registration statement with the SEC last month for a product called “the 21Shares Core XRP Trust.” This trust aims to be a passive investment vehicle that mirrors the price movements of XRP, a cryptocurrency focused on payments.
Wisdom Tree and 21Shares are not alone in their efforts to launch XRP products. Bitwise Asset Management, a leading digital asset index fund manager in the US, also filed for an XRP ETF recently.
Excitingly, a crypto strategist known for making accurate altcoin predictions has suggested that XRP could potentially reach a substantial price target of $20. Currently valued at $1.43, XRP has seen an 8% increase in the last 24 hours.
As more traditional financial institutions like Wisdom Tree enter the crypto space, it will be interesting to see how the market responds and how XRP continues to evolve as an asset. Stay tuned for more updates on this developing story!
