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21Shares submitted an application for a spot XRP ETF to the SEC.

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On November 8, Eric Balchunas of Bloomberg reported that 21Shares had submitted Form 8-A to the SEC, initiating a 20-day review process for the XRP spot ETF. This is an important step in 21Shares' expansion strategy in the American market under the leadership of Hany Rashwan and Ophelia Snyder.

If approved, this ETF could change how institutional investors approach XRP, making this digital currency easier to trade in traditional finance. In the past, similar reviews of Bitcoin ETFs often led to significant increases in trading volume and price. As of November 8, XRP was trading at $2.33, with a market cap of $139.88 billion and a 24-hour volume of $5.97 billion, up 5.06%. Approval could strengthen XRP's position among institutional investors.

XRP1.94%
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