SEC Begins Formal Review of WisdomTree’s XRP ETF Application

The U.S. Securities and Exchange Commission (SEC) has taken the first step towards potentially approving an XRP exchange-traded fund (ETF). The SEC has initiated a formal review process for WisdomTree’s proposed XRP ETF, which is seeking listing on the Cboe BZX Exchange. This move comes after years of legal battles between Ripple and the SEC regarding XRP’s classification as a security.