The XRP ETF filings have been submitted to the US Securities and Exchange Commission (SEC) by Cboe Exchange. The filings seek approval for a rule change to list and trade shares of spot XRP ETFs from Wisdomtree, Bitwise, 21shares, and Canary. The filings reference the SEC-Ripple Labs ruling from July 2023, which determined that XRP is not a security but found violations in Ripple's institutional sales. Unlike Bitcoin and Ethereum, XRP does not have a futures market on the CME, which has been a key requirement for ETF approvals in the past. However, the applications argue that alternative measures such as on-chain analytics and market structure analysis can provide sufficient protection against fraud and manipulation. Each fund manager presents distinct arguments for XRP's market stability, focusing on factors like liquidity, pricing mechanisms, and use cases in payments and remittances. The SEC has 45 days to review the filing and make a decision, which can be extended to 90 days if necessary. Grayscale has also applied to convert its XRP Trust into an exchange-traded fund on NYSE Arca.



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