21Shares has recently submitted an application for an XRP ETF with the SEC, despite legal troubles faced by Ripple. The new 21Shares Core XRP Trust could potentially provide US investors with greater access to cryptocurrencies if approved by regulators. This move follows similar efforts by companies like Canary Capital and Bitwise to launch crypto-based ETFs in the North American market.
In a statement, a spokesperson for 21Shares emphasized the company’s dedication to expanding crypto access in the US, stating, “21Shares remains committed to working to expand U.S. investors’ access to the cryptocurrency asset class and we look forward to driving innovation in the U.S.”
However, Ripple’s legal battle with the SEC continues to pose challenges. The SEC has accused Ripple of selling unregistered securities worth over $1.3 billion, leading to a $125 million fine imposed on the company in August. Despite this, XRP’s price has seen a slight increase, trading at US$0.5115 at the time of writing.
It is important to note that the opinions expressed in this article are for informational purposes only and should not be considered as financial advice. Investing in cryptocurrencies comes with inherent risks and potential financial losses.