"Cboe's XRP ETF Push: A Turning Point in Crypto Regulation"

Major asset managers are exploring regulatory safeguards as Cboe seeks approval for spot XRP ETFs, signaling a pivotal moment in the evolving landscape of cryptocurrency regulation.

Cboe has submitted four separate applications to the Securities and Exchange Commission (SEC), seeking approval to list and trade spot XRP ETFs from WisdomTree, Bitwise, 21Shares, and Canary. This move comes as asset managers bet on XRP's recovery and the growing interest in crypto investment vehicles.

However, XRP faces significant regulatory hurdles, unlike Bitcoin and Ethereum, which have well-established futures markets. Cboe's filings represent a critical attempt to fortify XRP's position as an ETF candidate while addressing the SEC's regulatory uncertainties.

The SEC has 45 days to review these applications once published in the Federal Register, with possible extensions of up to 90 days. The outcome will be crucial not just for XRP but for the broader ETF landscape as regulators continue to revise their approaches to digital assets.

Innovative safeguards proposed by asset managers include sourcing XRP from secondary markets rather than directly from Ripple Labs, aiming to distance the ETF from Ripple Labs' legacy and associated regulatory scrutiny. Additionally, applications include measures such as advanced surveillance systems, third-party custody arrangements, and cold storage of XRP to further ensure market integrity.

The new filings are part of a broader strategy to pave the way for XRP ETFs amid an ongoing SEC appeal of the Ripple decision. The SEC has 45 days to review these applications and can extend this to 90 days if necessary. The outcome will be crucial not just for XRP but for the broader ETF landscape as regulators continue to revise their approaches to digital assets.

Franklin Templeton is also pursuing regulatory consent to introduce a new cryptocurrency index ETF, aligning with a growing trend as multiple companies seek approval for ETFs that encompass various digital assets beyond Bitcoin and Ethereum, including SOL and XRP. The approval status for these proposed ETFs remains unresolved, and Franklin Templeton noted that the fund may currently not hold any digital assets other than BTC and ETH. However, the potential approval of other cryptocurrency ETF applications by the U.S. SEC could grant Franklin the flexibility to modify its ETF strategy, elevating