SEC Formally Begins Review of WisdomTree XRP Trust

The application was filed by the Cboe BZX Exchange ETF’s goal is to track the performance of XRP, which is measured by the CME CF Ripple-Dollar Reference Rate The SEC now has up to 240 days to approve or reject the application The US Securities and Exchange Commission (SEC) has officially initiated a review of the WisdomTree XRP Trust, a proposed spot ETF designed to provide investors with exposure to XRP without the need to hold the cryptocurrency directly. The Cboe BZX Exchange filed the application, and if it gets a green light, it would mark a notable achievement as the first spot XRP ETF in the US. ETF’s goal is to track the performance of XRP, which is measured by the CME CF Ripple-Dollar Reference Rate. The Trust’s assets will consist solely of XRP, cash, and cash equivalents, and it will value its shares daily at 4:00 PM ET using the same methodology as the Pricing Benchmark. In the context of cryptocurrencies, it refers to a reliable and transparent price data source used to measure the performance and value of digital assets. Regarding the shares, they will be sold or redeemed in blocks of 5,000 through cash transactions with authorize… The post SEC Formally Begins Review of WisdomTree XRP Trust appeared first on Coin Edition .

Source: Coin Edition