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The SEC has officially begun reviewing a proposal for a spot XRP ETF submitted by Bitwise through the Cboe BZX Exchange as of February 6. This review opens the door to potentially adding the XRP ETF to regulated trading platforms offering direct exposure to the digital currency.
Approval of this ETF would mark a significant advancement for XRP distinguished by its primary use in fast low-cost international payments. It follows recent approvals for Bitcoin and Ethereum spot ETFs showcasing a growing acceptance of cryptocurrencies within traditional financial markets.
The ETF aims to combine regulatory oversight with ease of access for investors eliminating the need for self-custody and enhancing price transparency and liquidity. This could lead to competitive management fees and make it easier for both seasoned and new investors to enter the cryptocurrency market.
