MEMX Files for SEC Approval to List XRP ETF from 21Shares
The U.S. market is seeing a wave of altcoin ETF applications, and MEMX is the latest player to join in. The exchange has filed a request with the SEC to approve the listing of the XRP ETF introduced by 21Shares, a major name in crypto investment products.
This marks 21Shares' second attempt at an XRP ETF listing, following its initial S-1 application in early November. The latest filing frames XRP as a commodity, aligning it with established crypto assets like BTC and ETH.
Could the XRP ETF Reshape Crypto Investments?
Should the SEC approve the proposal, the XRP ETF could become a major player in institutional portfolios, offering a regulated gateway to crypto exposure. JPMorgan estimates potential inflows of up to $8.4 billion, underscoring growing investor appetite.
The broader trend is undeniable—crypto-based financial products are making their way into traditional markets. Yet, the XRP ETF’s approval remains uncertain, as regulatory challenges loom.
Despite this, Ripple CEO Brad Garlinghouse has voiced confidence in its eventual approval, stating that the XRP ETF is only a matter of time.In 2020, the SEC sued Ripple, accusing the company of selling unregistered securities, a move that sparked a drawn-out court battle. A partial ruling in August 2023 established that while XRP itself isn’t classified strictly as a security, some of its transactions could still be subject to securities laws.
The Ripple Effect on Crypto ETFs
The move to establish an XRP ETF could encourage a wave of new filings for altcoin-based ETFs, as exchanges and issuers look to capitalize on growing investor demand. In fact, applications for Solana, Litecoin, and Dogecoin ETFs are already in motion, hinting at a broader trend of integrating cryptocurrencies into traditional financial markets.
Read on: Dogecoin ETF: Could 2025 Be the Year?
The increasing volume of crypto ETF applications is widely regarded as a step in the right direction. As more regulated products enter the market, they could help tame volatility, a major hurdle preventing institutional investors from fully embracing the crypto space.An SEC approval for MEMX and 21Shares would further legitimize this trend, proving that digital assets can find their place within traditional finance—and that legacy institutions are prepared to evolve alongside this rapidly expanding sector..
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