The Chicago Options Exchange (Cboe) submitted four separate 19b-4 requests for approval and trading of Ripple (XRP) spot trading ETFs to the U.S. Securities and Exchange Commission (SEC). These requests are for proposed ETFs by WisdomTree, Bitwise, 21Shares, and Canary. If successful, Ripple could become the third significant digital currency with an ETF in the U.S. alongside Bitcoin and Ethereum. Cboe believes XRP is not a security. These requests come amid recent optimism towards digital asset investment products. SEC typically requires 45 days for initial review of a request but can extend it up to 240 days. Unlike Bitcoin and Ethereum, XRP lacks a CME futures market, posing a regulatory approval challenge. Issuers have proposed various protective measures to address previous SEC concerns.
Chicago Options Exchange seeks approval for Ripple ETFs with SEC. Will Ripple become the third major digital currency with an ETF in the U.S.?
