XRP News Today: SEC Begins Review of WisdomTree XRP Trust ETF Application

The U.S. Securities and Exchange Commission (SEC) has officially begun reviewing the WisdomTree XRP Trust, a significant step towards the potential approval of a spot XRP exchange-traded fund (ETF). The application, filed by Cboe BZX Exchange, is currently under assessment to determine if the proposed product meets the necessary standards for market integrity and investor protection. This review, detailed in Release No. 34-103124, opens a 240-day window for the SEC to approve or reject the filing and allows for public comments.

The proposed ETF would track XRP’s price via the CME CF Ripple-Dollar Reference Rate, providing investors with exposure to XRP through standard brokerage accounts. This development could signal a shift in the cryptocurrency market, expanding beyond Bitcoin (BTC) and Ethereum (ETH).

Several other firms are also pursuing spot XRP ETFs, though most remain in the early stages. Companies like 21Shares, Grayscale, Bitwise, Canary Capital, CoinShares, ProShares, Volatility Shares, and Franklin Templeton have yet to advance past initial filings or submit the required 19b-4 forms. Franklin Templeton’s application, also filed via Cboe BZX, has seen a recent development with the SEC extending its decision deadline to June 17, 2025, to allow more time for evaluation under Section 19(b)(2).

Betting markets reflect growing confidence in a 2025 approval. According to Polymarket, there’s an 83% probability the U.S. will greenlight an XRP ETF by year’s end. If approved, the U.S. would become the second country to approve such a product, following Brazil’s launch of XRPH11, listed on the B3 stock exchange as the XRP HASH CI ETF. However, the Brazilian fund has had little effect on XRP’s price due to the limited size of the local financial market.

The potential approval of a spot XRP ETF could have significant implications for the cryptocurrency market. Exchange-traded funds could open the floodgates for institutional capital to flow into XRP, potentially driving its price higher. This development, coupled with the upcoming Fed’s rate-setting meeting on June 17th – 18th, could provide a tailwind for XRP. Lower interest rates tend to drive money out of bonds and savings accounts and into risk-on assets like XRP, further boosting its appeal.

Another key event that could influence XRP's price is the XRPL Apex conference hosted by Ripple in Singapore from June 10–12. This event will feature updates on AI, cross-chain compatibility, DeFi, and real-world utility-focused assets, which could put XRP further in the spotlight. Positive developments from this conference could encourage investors to park their capital in Ripple, potentially driving up the price of XRP.

Despite ongoing volatility in the macroeconomic environment, XRP bulls remain optimistic about the altcoin's potential for explosive returns in the months ahead. Hopes of regulatory clarity and Ripple’s growing enterprise have raised optimism among investors. However, the realization of these gains depends on how well the aforementioned catalysts play out for XRP. If everything aligns as expected, XRP could emerge as a millionaire-maker cryptocurrency, with some analysts predicting a 40x to 50x increase from its current value by the end of 2025.