The post Bitwise’s NYSE Listing Update Hints XRP ETF Approval Could Arrive Within 20 Days appeared first on Coinpedia Fintech News
The long-awaited XRP exchange-traded fund (ETF) from Bitwise could soon become a reality. Bitwise, the $15 billion asset management giant, has just submitted Amendment No. 4 to its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC), revealing two crucial details.
Experts believe such updates usually signal the final step before approval. If cleared by the SEC, the XRP ETF could go live within just 20 days.
Two Major Updates in Bitwise XRP ETF
On Oct 31, Bitwise filed an Amendment No. 4 with the SEC to update its S-1 form. The latest updated document includes two crucial details: first, the listing venue will be the New York Stock Exchange (NYSE); and second, the management fee will be 0.34%.
Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing marks a major step forward for XRP’s entry into traditional finance. “Adding the NYSE and fee means Bitwise has checked nearly all boxes.”
Historically, once issuers include exchange and fee details in their S-1 forms, it usually means they’re just waiting for the final green light from the SEC.
XRP ETF Could Launch in 20 Days
Following the update news, ETF expert James Seyffart of Bloomberg Intelligence added more context to it, noting that Bitwise’s latest filing contains “shorter language” that could allow the product to go live within just 20 days, pending SEC clearance.
Seyffart noted that Bitwise isn’t alone, major players like VanEck, Fidelity, and Canary Funds have also updated their filings, signaling that the race to launch an XRP ETF is heating up fast.
Meanwhile, Crypto America host Eleanor Terrett revealed that Canary Funds removed the “delaying amendment” from its S-1 filing, which gives the SEC control over timing.
This sets Canary’s XRP ETF up for a launch date of November 13, if the Nasdaq approves its 8-A filing.
Impact of XRP ETF on Price
After the latest XRP ETF updates, XRP’s price saw a small uptick, trading around $2.51, showing growing optimism among traders.
Analysts say that if the XRP ETF gets approved, it would mark the first-ever U.S. spot ETF for XRP, a historic moment that could push the token toward its all-time high price.
At present, XRP faces strong resistance near the $2.75 level. A breakout above this could open the door for a test of the $3 psychological mark.
However, if selling pressure continues, XRP might correct by up to 19%, retesting the $2 support zone within its long-term channel pattern.
Source: https://coinpedia.org/news/xrp-etf-approval-nears-as-bitwise-confirms-nyse-listing-and-20-day-launch-window/
