Skip to content
- Bitwise and Grayscale reveal XRP ETF fees amid regulatory changes.
- XRP ETFs launch without SEC approval as regulatory landscape shifts.
- Crypto firms race to launch XRP ETFs despite government shutdown.
Bitwise and Grayscale have both set the fees for their long-awaited XRP exchange-traded funds (ETFs), as they continue to move forward with their respective plans, despite regulatory hurdles persisting.
Bitwise and Grayscale announced fees of $0.34 and $0.35, respectively, in their most recent filings concerning the Bitwise XRP and Grayscale XRP ETFs. It is also a significant step for the two companies as they enter an expanding trend of crypto-related ETFs, even though the U.S. Securities and Exchange Commission (SEC) has not explicitly approved them.
These crypto ETFs are gaining momentum, following the introduction of funds by Bitwise and Grayscale that track Solana (SOL) only last week. The SOL ETF from Bitwise, in particular, made a big splash, raising an impressive $56 million on the first day—the largest first-day take of any ETF launch this year.
Also Read: Hong Kong Unveils Game-Changing Crypto Rules to Boost Global Trading Liquidity
Other companies, such as Canary Capital, have also launched ETFs that track Litecoin and HBAR, a move that indicates a growing interest in cryptocurrency-related exchange-traded funds.
Regulatory Flexibility Boosts ETF Launches
This is happening against the backdrop of a changing regulatory environment, where the SEC currently operates under a diminished capacity due to the ongoing government shutdown. The agency has overcome these hurdles to establish ETF listing standards, which have enabled some companies to avoid the time-consuming approval process.
A person with knowledge of the situation said that the XRP ETF by Grayscale might follow the same path as its SOL ETF, which was launched without formal approval from the SEC.
The new SEC guidance offers a smoother approach to launching ETFs. Firms can proceed to listing faster by submitting an S-1 registration statement without the customary delaying amendment. This has dramatically shortened the crypto ETF timeline as they can launch with little SEC interference.
Industry Experts See Launch as Milestone
According to Nate Geraci, President of NovaDius Wealth Management, this change in the regulatory setting marks a critical turning point for the industry. As the litigation that Ripple is currently facing against the SEC is now over five years old, the introduction of spot XRP ETFs is the final step toward overcoming regulatory obstacles that have been impeding the further development of crypto-based financial instruments.
The market’s passion for such new products is evident, and the SEC’s diminished capacity to intervene is contributing to the acceleration of the time frame for these launches.
Consequently, Bitwise and Grayscale are taking some aggressive steps in the crypto ETF arena, which is an indication that the field is still moving towards mainstream crypto acceptance.
Also Read: Ripple Launches Digital Asset Spot Prime Brokerage Services for U.S. Institutions
