The objective investment, assets management firm of more than $ 23 billion in assets, is filed by an initial prospectus, seeking regulatory approval for the launch of a spot XRP exchange-traded funds.
The proposed objective is to provide investors the opportunity to benefit investors from long -term performance and asset capital appreciation for the XRP, according to A. Announcement
Objective Investment presented preliminary prospectus to Canadian securities regulators. Shortly after the firm, the firm also applies to the listing of a spot Solana (Sol) spot ETF.
Objective Investment Chief Executive Officer Som Safe said that the continuous adoption of XRP may demand a spot investment product.
“As XRP enhances adoption and institutional interest, we believe that an ETF can provide investors a transparent and familiar way to access it within a regulated structure,” he said.
Several applications have been made for an XRP exchange-traded funds in the United States, recently encouraged those who release regulators to advance.
Grayscale, coinshares, and Bitwise are among the asset managers who have filed for approval to start the XRP exchange-traded funds. Other top cryptocurrency attracting spot ETF applications includes solana, latcoin and dogocine.
These developments have intensified after leadership changes in the United States of Securities and Exchange Commission, especially the departure of former SEC President Gary Gensler.
Objective Investment launched the world’s first bitcoin ETF in February 2021 after obtaining approval from Ontario Securities.
Meanwhile, the United States asset managers had to wait till January 2024 for approval from the Securities and Exchange Commission. Since then, spot bitcoin exchange-traded funds in the United States have attracted more than $ 121 billion in property.
