On February 6, 2025, the Exchange CBOE BZX filed, on behalf of four asset managers, requests for the creation of negotiated stocks (ETF) in cash based on XRP. The companies concerned are Canary Capital, Wisdomtree, 21Shares and Bitwise. These deposits mark a significant step in expanding financial products related to cryptos in the United States.
Crypto: the dry in the face of a new wave of XRP ETF
Last week, January 28, 2025, CBOE BZX revived deposits for Solana, representative of companies such as Canary, 21Shares, Bitwise and Vaneck. This week, the Crypto Exchange submits the known deposits under the name of forms 19B-4, informing the dry of a rule modification, thus initiating the regulatory examination process.
This initiative Reflects a significant increase in the number of ETF proposals linked to cryptos, indicating an increasing interest in asset managers for these innovative financial products. Especially since the SEC is now led by acting president Mark Uyeda, recognized for his favorable position for cryptocurrencies.
An uncertain outcome?
The cash register ETFs offer investors a direct exposure to the price of underlying assets, in this case, the XRP, without requiring the direct detention of the crypto. This allows more accessible and potentially less risky participation in the cryptocurrency market, while benefiting from the regulated structure of traditional stock markets.
The approval of these ETFs by the SEC could open the way to a broader adoption of cryptos by institutional and individual investors, by providing financial instruments in accordance with the regulations in force. However, the regulatory examination process is rigorous, and the outcome of these requests remains uncertain.
The recent deposits of CBOE BZX for ETF in cash based on XRP, in the name of leading asset managers, illustrate the continuous evolution of the Crypto market to more integrated and accessible financial products. The outcome of these proposals could have a significant impact on the future of investment in digital assets in the United States.
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