SEC Debates Crypto Chaos: XRP Fund Eyes Stock Exchange Debut
Published Date: 6/2/2025
Notice
Summary
The SEC is deciding whether to approve the Cboe BZX Exchange’s plan to list and trade shares of the WisdomTree XRP Fund, a new commodity-based trust tied to the cryptocurrency XRP. This affects investors interested in trading XRP through a regulated exchange and could open up new ways to invest starting soon. The SEC is taking its time to carefully review before giving the green light or a no-go.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Proposal to List XRP Commodity Fund
The Cboe BZX Exchange has proposed listing and trading shares of the WisdomTree XRP Fund, a commodity-based trust that would hold only XRP, cash, and cash equivalents. The Trust would value its shares daily at 4:00 p.m. ET and create or redeem shares in cash-only transactions in blocks of 5,000 shares.
SEC Review and Comment Deadlines
The Securities and Exchange Commission has instituted proceedings to decide whether to approve or disapprove the proposed listing and is asking for public comment. Written comments are requested by June 23, 2025, and rebuttal comments by July 7, 2025; the SEC specifically asks whether the proposal prevents fraudulent or manipulative acts under Section 6(b)(5) of the Securities Exchange Act.
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