21Shares, a major issuer of exchange-traded funds, has just joined the XRP ETF race, according to a Friday filing with the U.S. Securities and Exchange Commission (SEC).Â
If approved, the recently proposed 21Shares Core XRP Trust is going to be listed on the Cboe BZX Exchange.Â
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The product will track the performance of the XRP token based on the recently launched CME CF Ripple-Dollar Real-Time Index (XRPUSD_RTI).
According to 21Shares, the ETF product is supposed to provide shareholders with a more “cost-efficient way” for investors to get exposure to XRPÂ compared to purchasing and holding the XRP-affiliated token directly.Â
Notably, the filing has stressed that XRP is not a security. As reported by U.Today, the SEC recently confirmed that it was not going to challenge the legal status of the controversial token during the ongoing appeal process in the Ripple case.Â
