21Shares Files for XRP-Focused ETF in the U.S., Joining Growing Trend in Crypto Investment Products

21Shares, a major player in the crypto world, has just filed a registration statement for an XRP-focused exchange-traded fund (ETF) in the U.S.

They submitted a Form S-1 to the Securities and Exchange Commission (SEC) on Friday.

The ETF, named “the 21Shares Core XRP Trust,” aims to track the price of XRP, a popular altcoin used for payments.

Interestingly, 21Shares isn’t the only company trying to launch an XRP ETF. Last month, Bitwise Asset Management, the largest digital asset index fund manager in the U.S., also filed for an XRP ETF.

This year has been quite eventful for crypto investment products.

In January, the SEC approved the first spot market Bitcoin (BTC) ETFs. This decision led to billions of dollars flowing into Bitcoin, the top digital asset by market cap. Then, in July, the SEC also approved Ethereum (ETH) ETFs for trading. Several firms, including 21Shares, applied for Solana (SOL) exchange-traded products in July as well.

Bloomberg ETF analyst Eric Balchunas noted that the SOL filings might be viewed as “a call option on the POTUS election.”

As for XRP, it’s currently trading at $0.516. This asset ranks seventh in the crypto market by capitalization. It has seen a rise of over 1% in the last day and nearly 2% in the past week.