On Thursday, the Cboe Exchange submitted four separate Form 19b-4 requests to the U.S. Securities and Exchange Commission (SEC) seeking approval for listing and trading XRP ETFs proposed by WisdomTree, Bitwise, 21Shares, and Canary. These requests aim to potentially elevate Ripple alongside Bitcoin and Ethereum as one of the major ETF cryptocurrencies in the United States. The documents emphasize key reasons for approving XRP ETFs and reference Ripple’s relative victory in court in July 2023. The requests argue that Cboe Exchange has used appropriate legal standards to determine that Ripple is not considered a security. These applications come at a time when the cryptocurrency investment space is experiencing optimism despite market pressures. However, Ripple’s price has dropped by 33% after nearing its historical high of $3.40 in late January.
