WisdomTree Registers XRP ETF Entity, XRP Jumps 7%

WisdomTree is the latest to join the XRP ETF craze by registering for an XRP ETF entity in Delaware.

A filing shared on X shows that WisdomTree registered the entity titled "WisdomTree XRP Fund" in the state of Delaware on 25 November.

The move suggests the company is preparing to file an S-1 registration with the US Securities and Exchange Commission (SEC) to launch an XRP-focused ETF.

WisdomTree follows the likes of Bitwise and Canary Capital, which have also sought SEC approval for spot XRP ETFs.

With $113 billion in AUM, the investment powerhouse already has a Bitcoin ETF managing approximately $367 million in assets.

In May, the firm also received approval to list physically-backed Bitcoin and Ether exchange-traded products on the London Stock Exchange, signaling its broader commitment to digital asset integration.

Bitwise filed for its XRP ETF last month, submitting its initial registration statement on Form S-1 with the SEC. Per the filing, the proposed fund would hold XRP directly.

"At Bitwise, we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century,” said Bitwise CEO Hunter Horsley.

“It’s why for the past seven years we’ve helped investors access the opportunities in the space, and we’re excited to continue that work with our filing for a Bitwise XRP ETP.”

Last week, XRP reached its highest price since May 2021 on the back of SEC Chair Gary Gensler's impending departure. Open interest in XRP futures reached also an all-time high, with over 2 billion tokens in active futures positions, reflecting a strong appetite for XRP volatility and suggesting further price moments are being anticipated.

XRP rose 7% on Monday following news of WisdomTree's Delaware registration, boosting its recovery from a brief lull in the overall market over the weekend.