Bitwise’s spot XRP ETF may become the next launch as SEC moves to speed filings
New review standards could reshape the approval landscape for digital asset investment vehicles and drive greater innovation in the ETF sector.
Bitwise’s XRP ETF (XRP) could hit the US market soon after the debut of the Canary XRP ETF (XRPC), thanks to new SEC post-shutdown guidance that allows issuers to speed up the effectiveness of pending registration statements, Bloomberg ETF analyst Eric Balchunas revealed Friday.
The updated regulatory guidance aims to clarify how issuers can manage filing procedures during the post-shutdown period, which may shorten review timelines for certain exchange-traded fund applications that were delayed by the backlog.
The SEC’s latest FAQs explain that issuers who filed or amended registration statements without a delayed amendment during the shutdown may request acceleration once the Division has reopened.
Bitwise has announced a competitive fee structure for its XRP-based product, proposing a low 0.34% management fee to attract investors.