Prominent asset manager and exchange-traded fund issuer Wisdom Tree is reportedly filing for an XRP ETF product.
According to Eleanor Terret of Fox News, $100 billion asset manager Wisdom Tree has registered for an XRP ETF in the state of Delaware.
“NEW: Global ETF provider WisdomTreeFunds has registered in the state of Delaware for an XRP ETF. I have confirmed with the company this is a legitimate filing.
Wisdom Tree has over $100 billion in assets under management.”
Earlier this month, asset manager 21Shares also filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC).
The proposed product, called “the 21Shares Core XRP Trust,” aims to be a passive investment vehicle that tracks the price of the payments-focused crypto asset.
21Shares and Wisdom Tree aren’t the first firms to try and get XRP products off the ground. Bitwise Asset Management, the largest digital asset index fund manager in the US, filed an initial registration statement for an XRP ETF last month.
Earlier this week, a crypto strategist known for making timely altcoin calls said it is within the realm of possibility for XRP to hit a massive price target of $20.
XRP is worth $1.43 at time of writing, up 8% in the last 24 hours.
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