MEMX, a U.S. Stock Exchange, is seeking the Securities and Exchange Commission to list funds (ETFs) traded on the XRP (XRP) exchange as “product-based trust,” according to regulatory filings.
Filing mark The latest initiative by the US exchange to list ETFs including Spot XRP, the native token of Ripple's XRP Ledger blockchain network.
It also highlights how the SEC is changing its stance on cryptocurrency when President Donald Trump launches his second term. 2020, SEC I sued Ripple claims that the blockchain developer issued unregistered securities at the time of the release of the XRP token.
The lawsuit was partially resolved in August when a US judge determined that XRP tokens were not inherently secure and were entitled to be a qualification under certain circumstances.
The list as a commodity trust has put XRP in the same category as Spot Bitcoin (BTC) and Ether (ETH) ETFs, and was launched in the US last year.
21 shares filed to list the Core XRP Trust ETF in November just days before the crypto-friendly Trump won the US election on November 5th. Regulatory posting.
On February 6th, another US stock exchange, CBOE BZX, sought permission to list four spot XRP ETFs, including the 21Shares Core XRP Trust. Sec Recognised Application for February 14th.
A large number of cryptographic ETFs are awaiting regulatory approval. sauce: Bloomberg Intelligence
Related: The SEC is seeking comment on the redemption of Bitcoin, ether ETFs in physical form
Filing wind gust
The publisher filed to list dozens of cryptocurrency ETFs above, in anticipation of industry executives expecting a more compromise on Trump administration's cryptocurrency stance.
They include ETFs that carry memokines such as Dogecoin (Doge), official Trump (Trump), and Bonk (Bonk).
Additionally, the publisher submitted to list alternative cryptocurrencies such as Solana (SOL) and Litecoin (LTC) or ETFs for “Altcoins”;
Meanwhile, existing cryptographic ETFs, that hold spot BTC and ETH, are trying to add new features such as staking and physical redemption.
The publisher is also awaiting approval of several planned Crypto index ETFs designed to hold a diverse basket of digital tokens.
On February 14th, the first Spot Crypto Index Fund, the Hashdex Nasdaq Crypto Index US ETF, began trading on NASDAQ.
magazine: Influencer Shilling Memo Coin Scam Faces Serious Legal Consequences
