OnNovember1,21SharesfiledanS-1registrationformwiththeSecuritiesandExchangesCommissionforaspotXRPETF.Iftheregulatorapprovesthefiling,thecompanywillestablishits21SharesCoreXRPTrust,listedontheCboeBZXExchange,andCoinbaseCustodyTrustCompany,itscustodian.
21SharesJoinsCanaryCapitalandBitwiseinfilingforaspotXRPtrust
21SharessubmittedaregistrationformtotheUSregulatorforaspotXRPtrust,joiningmultiplecompanieslikeCanaryCapitalandBitwise,hopingtogettheirfillingsapproved.
AspokespersonatthecompanycommentedontheXRPtrustfiling:
21SharesremainscommittedtoworkingtowardsexpandingUSinvestoraccesstothecryptocurrencyassetclass,andwelookforwardtodrivinginnovationintheUS.
~Spokespersonat21Shares
However,the21SharesregistrationrequestcomesasRippleisstillentangledinalegalconfrontationwiththeSEC.Theirlegalbattlestartedwhentheregulatorallegedthatthecompanyraisedover$1.3billionthroughtheunlawfulsaleofXRP,whichithadthenconsideredanunregisteredsecurity.
Aboutayearago,JudgeAnalisaTorresoftheU.S.DistrictCourtfortheSouthernDistrictofNewYorkruledinfavorofRipple,deemingtheprogrammaticsaleofXRPlawfulandanon-violationofthesecuritieslaw.However,shedidclassifydirectsalestoinstitutionalinvestorsassecurities,andinAugust,shesettledonacivilpenaltyof$125millionforRipple.
Currently,bothpartiesareappealingpartsofherdecisiondespiteBradGarlinghouse,CEOofRipple,callingoutthecommissionforbeingirrational,sayingitshouldhaveleftthecaselongago.
Moreover,GarlinghousehasbeenonrecordsayingthataspotXRPETFis‘inevitable’.
21ShareshasfiledformultipleETFapprovalssincetheyear’sstart
TheassetmanagementfirmreceivedthegreenlightfromtheUSCommissiontoissueitsspotBitcoinETF,ARK21SharesBitcoinETF,whichwasapprovedinJanuaryafteralonglegalbattle.
InJune,thefirmfiledanotherregistrationformforanexchange-tradedfundtiedtotheSolanatoken.AsofAugust26,2024,21ShareswasstilllistedontheSEC’sEDGARdatabaseforitsapplication.However,itsCboe19b-4formhadbeenrejected.Thismeansthatthefirmmayneedtorefileitsrequestoramendits19b-4formstogainapprovalfromthecommission.
cryptopolitan.com