Major Player Joins XRP ETF Race

The XRP ETF race is heating up, with 21Shares jumping into the fray with its own filing

21Shares, a major issuer of exchange-traded funds, has just joined the XRP ETF race, according to a Friday filing with the U.S. Securities and Exchange Commission (SEC).

If approved, the recently proposed 21Shares Core XRP Trust is going to be listed on the Cboe BZX Exchange.

The product will track the performance of the XRP token based on the recently launched CME CF Ripple-Dollar Real-Time Index (XRPUSD_RTI).

According to 21Shares, the ETF product is supposed to provide shareholders with a more "cost-efficient way" for investors to get exposure to XRP compared to purchasing and holding the XRP-affiliated token directly.

Notably, the filing has stressed that XRP is not a security. As reported by U.Today, the SEC recently confirmed that it was not going to challenge the legal status of the controversial token during the ongoing appeal process in the Ripple case.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Major Player Joins XRP ETF Race

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