![\"Receive,](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/09\/brighty-news-position.jpg\")
<\/a><\/div>\nAsset manager Bitwise\u00a0filed<\/a> for an XRP<\/a>\u00a0exchange-traded fund (ETF)\u00a0on Sept. 30<\/span>\u00a0with Delaware\u2019s Division of Corporations.<\/p>\n The document consists of a registration for a Delaware statutory trust, a legally recognized trust set up for business.<\/p>\n Bitwise CIO Matt Hougan confirmed the development and told CryptoSlate that more information would be released in the coming days.<\/p>\n The most infamous example is the Grayscale Bitcoin Trust, which was turned into an ETF in January this year. Notably, Grayscale introduced<\/a> an XRP trust on Sept. 12.\u00a0The XRP-related movements follow the end<\/a> of a four-year-long dispute between XRP\u2019s issuer, Ripple Labs<\/a>, and the US Securities and Exchange Commission (SEC).<\/p>\n Ripple was fined $125 million as a result of the SEC\u2019s partial win in a motion for remedies.<\/p>\n However, District Judge Analisa Torres from the District Court of the Southern District of New York did not consider XRP offerings to retail as selling of unregistered securities.<\/p>\n Despite the positive development, XRP price is still following the broad market movement and sits at $0.6117 at the time of writing, down by 2.6% over the past 24 hours as per CryptoSlate<\/em> data<\/a>.<\/p>\n Approving a new crypto-related ETF that isn\u2019t tied to Bitcoin (BTC) or Ethereum (ETH) might be a difficult task.<\/p>\n Nate Geraci, CEO of The ETF Store, stated<\/a> on Sept. 12 that receiving a green light from the SEC for XRP ETF trading would need political help.<\/p>\n On a similar tone, Bloomberg senior ETF analyst Eric Balchunas<\/a> claimed<\/a> that the chance of a Solana ETF being approved in the US is equal to \u201ca snowball\u2019s chance in hell.\u201d<\/p>\n Balchunas\u2019 remarks came after asset managers VanEck and 21Shares filed for Solana ETFs in late July, four days following the first spot Ethereum ETFs started trading in the US.<\/p>\n Furthermore, despite recently reiterating<\/a> that Bitcoin is a commodity, SEC Chairman Gary Gensler refused to state what tokens can be considered securities in a Sept. 24 Congress hearing<\/a>.\u00a0The outcome of the Solana ETFs and the potential XRP ETFs under the SEC\u2019s current leadership is still unclear.<\/p>\n Asset manager Bitwise\u00a0filed for an XRP\u00a0exchange-traded fund (ETF)\u00a0on Sept. 30\u00a0with Delaware\u2019s Division of Corporations. The document consists of a registration for a Delaware statutory trust, a legally recognized trust set up for business. Bitwise CIO Matt Hougan confirmed the development and told CryptoSlate that more information would be released in the coming days. The most […]<\/p>\n","protected":false},"author":2,"featured_media":360048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-360045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/360045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=360045"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/360045\/revisions"}],"predecessor-version":[{"id":360050,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/360045\/revisions\/360050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/360048"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=360045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=360045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=360045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Difficult task ahead<\/h2>\n
Mentioned in this article<\/h6>\n<\/div>\n","protected":false},"excerpt":{"rendered":"