MEMX Exchange Files for XRP ETF as SEC Reviews Applications

MEMX, a securities speech based successful the U.S., has filed with the Securities and Exchange Commission (SEC) to database an XRP exchange-traded money (ETF) nether Commodity-Based Trust.

This means XRP would beryllium classified likewise to Bitcoin and Ethereum ETFs, which were approved past year. The filing was made yesterday, February 17, arsenic much crypto-related ETFs question regulatory approval.

MEMX LLC filed for $XRP ETF | Source: X

Meanwhile, the SEC has a analyzable past with XRP. In 2020, the bureau sued Ripple, the institution down XRP, claiming it sold unregistered securities. But successful August 2023, a U.S. justice ruled that XRP itself is not a security, though definite income could beryllium considered securities transactions. This ruling has fixed these exchanges the required motivation enactment to propulsion for an XRP ETF.

MEMX is not unsocial successful doing this. Many different exchanges are besides filing for XRP ETFs. One of the astir caller is Cboe BZX Exchange. On February 6, 2025, it submitted a petition to database four spot XRP ETFs, including the 21Shares Core XRP Trust. The SEC acknowledged the filing connected February 14, which means it is present nether review.

Meanwhile, Grayscale Investments is looking to person its existing XRP Trust into an ETF. Its filing has been acknowledged by the SEC arsenic of now.

Crypto ETFs waiting for support | Source: X

Moreover, the involvement successful ETFs is surging. After the SEC approved the Bitcoin ETF aboriginal past year, antithetic firms began submitting for ETFs successful different cryptocurrencies similar Solana, Litecoin, and adjacent memecoins specified arsenic Dogecoin (DOGE), and President Trump precocious launched memecoin (TRUMP). Even ETF issuers are besides moving connected caller features similar staking options and in-kind redemptions.

However, the caller alteration successful the U.S. governmental situation whitethorn play a relation successful the SEC’s adjacent decision. The president won the predetermination past year, and helium has promised to marque America the “world’s crypto capital.”.

He has besides appointed caller pro-crypto figures to cardinal positions, which could mean a friendlier stance connected crypto ETFs.

On February 14, 2025, the first-ever spot crypto scale ETF, Hashdex Nasdaq Crypto Index U.S. ETF, started trading connected Nasdaq. This ETF gives investors vulnerability to aggregate integer assets astatine once.

Also Read: 78% Chance of XRP ETF Approval by SEC successful 2025 Polymarket