XRP ETF Update Institutional Interest Rises Amid Ongoing Ripple vs SEC Legal Battle
**Story Highlights**
**XRP News:** Institutional investors are increasingly pursuing XRP ETFs, demonstrating their confidence amid ongoing regulatory uncertainty.
**XRP ETF:** 21Shares has filed for an XRP-based ETF, signaling a rise in institutional demand.
Recent developments in the XRP ETF landscape suggest that the ongoing legal dispute between the US Securities and Exchange Commission (SEC) and Ripple has not dampened institutional interest in XRP.
In a recent update on X, Ripple CEO Brad Garlinghouse highlighted this growing institutional engagement as a positive indicator for the company in its fight against regulatory challenges. Interested in the current landscape of institutional investments in XRP? Keep reading!
**21Shares Files for XRP Spot ETF**
21Shares has recently applied to launch an XRP-based ETF named the 21Shares Core XRP Trust. The Coinbase Custody Trust Company will act as the custodian for the trust’s XRP assets. Should the fund receive approval, it is set to be listed on the Cboe BZX exchange.
21Shares is not the only entity expressing interest in creating an XRP-based ETF; Canary Capital and Bitwise are also significant players looking to develop similar offerings.
**Garlinghouse’s Insights on Institutional Interest**
In his recent post on X, Garlinghouse noted a notable trend: a growing number of institutional players are pursuing investments in XRP, even amidst Ripple’s ongoing legal challenges with the SEC. Reports indicate that at least three of the four applications for XRP institutional products submitted last month came after the SEC filed an appeal against a favorable ruling for Ripple from a Federal court—a ruling that argued XRP is not classified as a security.
The market’s message is unmistakable—interest in XRP products from institutional investors is stronger than ever.
@BitwiseInvest, @CanaryFunds, and @21Shares (just this morning!) have all filed S-1s for XRP ETFs, while @Grayscale has launched an XRP Trust and is seeking to convert its multi-asset fund…
https://t.co/d5Icksw4Sj
— Brad Garlinghouse (@bgarlinghouse)
November 1, 2024
Garlinghouse also suggested that major players, including Grayscale Investments, are gearing up to make significant moves in the XRP ETF market. Reports indicate that Grayscale is considering converting its multi-asset fund, which includes XRP, into an XRP spot ETF.
The CEO framed this surge in institutional investment as a triumph for Ripple against regulatory pressure, contending that the SEC’s opposition could ultimately undermine its credibility within the cryptocurrency sector.
In summary, the increasing number of XRP ETF filings underscores a heightened institutional interest in XRP, even in the face of ongoing regulatory hurdles.
Stay tuned to Coinpedia for the latest updates on the XRP ETF market!
**Tags:** Ripple (XRP)