SEC Filing: 21Shares Core XRP Trust Moves Toward Listing on Cboe BZX
On February 14, 2025, the Securities and Exchange Commission (SEC) officially acknowledged a proposed rule change filed by Cboe BZX Exchange, Inc. to list and trade shares of the 21Shares Core XRP Trust under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares. This filing marks a significant milestone for XRP, as it moves closer to gaining broader institutional acceptance.
The proposal, initially submitted on February 6, 2025, was later amended on February 12, 2025, replacing the original filing. Now open for public comment, the proposed rule change could impact XRP’s presence in traditional financial markets.
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What Is the 21Shares Core XRP Trust?
The 21Shares Core XRP Trust is a financial product designed to provide investors with regulated exposure to XRP, similar to how Bitcoin (BTC) and Ethereum (ETH) exchange-traded products (ETPs) operate. The Trust was formed as a Delaware statutory trust on June 3, 2024, and functions as a grantor trust for U.S. federal tax purposes.
The Trust does not have a fixed termination date, meaning it can operate indefinitely unless specific circumstances lead to its closure. If approved, this Trust would allow investors to trade shares backed by XRP, offering an easier and more regulated way to gain exposure to the digital asset.
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Regulatory Implications and Market Impact
The SEC’s review of this proposed rule change is crucial because it could signal increasing regulatory acceptance of XRP as a commodity-based asset. In the past, the SEC vs. Ripple lawsuit raised concerns about whether XRP qualifies as a security. However, recent rulings and market shifts have strengthened XRP’s position as a commodity, making products like the 21Shares Core XRP Trust more feasible.
If approved, this listing could:
- Enhance XRP’s legitimacy in the eyes of institutional investors.
- Increase liquidity and market accessibility by enabling traditional investors to trade XRP-backed shares.
- Boost adoption by integrating XRP into regulated financial structures.
Conclusion: A Step Toward Mainstream Recognition
The filing of the 21Shares Core XRP Trust for listing on Cboe BZX Exchange represents a major step forward for XRP’s institutional adoption. While the SEC has yet to approve the proposal, the mere consideration of such a product signals the growing acceptance of XRP within regulated financial markets.
As public comments and further reviews take place, the crypto community will closely watch whether this move paves the way for broader XRP-based investment products in the U.S. financial ecosystem.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
