SEC Review Commences for WisdomTree XRP Fund Listing

The U.S. Securities and Exchange Commission (SEC) has begun reviewing the proposed listing of the WisdomTree XRP Fund on Cboe BZX Exchange, according to PANews. This fund aims to replicate the spot price of XRP daily using the CME CF Ripple-Dollar reference rate, holding solely XRP, cash, and cash equivalents. The SEC will examine the proposal’s compliance with regulations intended to prevent market manipulation and protect investors as per Section 6(b)(5) of the Securities Exchange Act. Currently, a decision has not been made to approve or deny the listing. The public is invited to submit written comments for the review process.