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MEMX, a US securities exchange, has filed with the Securities and Exchange Commission (SEC) to list an XRP exchange-traded fund (ETF) as a “Commodity-Based Trust.”

Notably, this XRP ETF filing comes at a time when the crypto industry is witnessing a more welcoming regulatory environment, particularly under the influence of recent political changes under the new Donald Trump administration.

The decision by MEMX to pursue this listing underscores the evolving perception of XRP, Ripple’s native cryptocurrency, within the financial sector.

Historically, XRP has faced scrutiny, notably from the SEC, which in 2020 accused Ripple of issuing unregistered securities.

However, a landmark ruling in August clarified that XRP does not inherently qualify as a security but could be under certain conditions.

This nuanced legal outcome has paved the way for XRP to be considered alongside other commodities like Bitcoin (BTC) and Ethereum (ETH).

The backdrop of MEMX’s XRP ETF filling is the reelection of President Donald Trump, who has publicly advocated for making the US the “world’s crypto capital.”

His administration’s more crypto-friendly stance has encouraged exchanges like MEMX to explore new avenues for cryptocurrency investment vehicles.

The MEMX XRP ETF filling isn’t an isolated event; it’s part of a broader trend where issuers are lining up to introduce various cryptocurrency ETFs.

It is also not the first XRP ETF proposal, seeing that Canary Capital made a similar filing in October 2024 and the SEC also recently acknowledged Grayscale’s application for a spot XRP ETF.

The push for an XRP ETF reflects not just a regulatory shift but also a strong market demand, with investors, both retail and institutional, looking for more ways to gain exposure to cryptocurrencies without the complexities of direct ownership.

By listing XRP as a commodity-based trust, MEMX is responding to this demand, potentially increasing investor confidence by providing a regulated, familiar investment structure.

Earlier in the year, JPMorgan analysts estimated the suite of proposed XRP funds is expected to gather between $4 billion and $8 billion within six to 12 months, if approved.

Interestingly, XRP, which has seen a sharp decline today, has seen little reaction following the news of the MEMX XRP application, only rising by $0.03 from a daily low of $2.62 to $2.63 at press time.

After attempting a recovery over the past week, bears seem to have regained control with the XRP price dropping by 6% over the weekend.

If XRP drops below $2.6, analysts are watching to see if it will hold the support at around $2.4; failure to which the token could fall to around $2.15.

Conversely, if bulls regain control, the first resistance target lies at around $2.75, which if breached could see the token soar toward its monthly high of $3.35.

The post MEMX Exchange files to list XRP ETF as a commodity-based trust appeared first on Invezz

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