21Shares submits XRP ETF application to US SEC

BlockBeats reported that on November 2, according to public documents from the U.S. Securities and Exchange Commission (SEC), 21Shares has submitted an S-1 application and plans to launch the first XRP ETF "21Shares Core XRP Trust".

The fund will track XRP prices and plans to be listed on the Cboe BZX exchange. The trust does not involve leverage or derivatives and aims to reflect XRP's dollar performance through the CME CF Ripple-Dollar reference rate (New York version). Coinbase Custody will serve as the XRP custodian of the trust and will be responsible for the safekeeping of all assets.