MEMX Exchange has filed to list the 21Shares Core XRP Trust, marking a significant development in the crypto space. This request follows the SEC’s acknowledgment of a similar filing by Cboe to list the 21Shares XRP exchange-traded fund (ETF). The approval of such a listing would categorize XRP similarly to Bitcoin and Ether ETFs, which were launched in the U.S. last year.
The move comes after a partial resolution of the ongoing legal case between the SEC and Ripple, which involved the classification of XRP. A judge ruled that XRP is not inherently a security but could be considered one in certain conditions. This decision has paved the way for exchanges like MEMX and Cboe to seek listing approvals for XRP-related funds.
With the potential approval of XRP ETFs, the cryptocurrency market is witnessing a growing interest in digital asset ETFs. The SEC’s approach to such filings is evolving, with many crypto-related investment vehicles awaiting regulatory clearance. The ongoing developments suggest that the regulatory landscape for digital assets may become more favorable, especially with political shifts in the U.S.
The rise of crypto ETFs is also expanding beyond just Bitcoin and Ether, with filings for products linked to other cryptocurrencies like Solana and Litecoin. Industry experts believe this diversification signals broader acceptance of cryptocurrencies in the financial ecosystem, as more exchanges and issuers position themselves for regulatory approval.
