Summary
- Bitwise reportedly submitted the fourth amendment to its XRP(XRP) spot ETF application to the SEC.
- The amendment specified listing on the New York Stock Exchange(NYSE) and a 0.34% management fee.
- The amendment filing has raised expectations for approval of an XRP ETF, and there are forecasts that the SEC's final decision is likely to be made soon.
Bitwise has submitted the fourth amendment to its XRP(XRP) spot exchange-traded fund (ETF) application to the U.S. Securities and Exchange Commission (SEC).
On the 1st (local time), according to Eric Balchunas, a Bloomberg ETF analyst, Bitwise specified the listing exchange as the New York Stock Exchange(NYSE) in this amendment and set the management fee at 0.34%. This is a key item regarded as the 'final stage' in the ETF approval process, suggesting that listing preparations have effectively entered the final phase.
Bitwise is pursuing the launch of an XRP-based ETF following its spot Bitcoin (BTC) and Ethereum (ETH) ETFs. With this amendment filing, expectations for approval of an XRP ETF have risen, and the industry expects that the SEC's final decision is likely to be made soon.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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