Crypto Fund Manager Bitwise Files Application For Spot XRP ETF
Crypto fund manager Bitwise has filed for a spot XRP ETF (exchange-traded fund) that would allow investors to gain exposure to Ripple’s native XRP token. The Bitwise XRP ETF was incorporated on Sept. 30 with CSC Delaware Trust Company listed as the registered agent, according to the filing . Ripple CEO Said XRP ETF ”Inevitable” The filing in Delaware comes just months after Ripple’s CEO, Brad Garlinghouse, said that an XRP ETF in the US is “inevitable.” This followed the launch of similar products associated with the crypto market leaders Bitcoin (BTC) and Ethereum (ETH) this year. If approved, a spot XRP ETF would give investors the ability to buy into the remittance token through a regulated vehicle. This could subsequently boost liquidity for the altcoin. In November 2023, rumors of a BlackRock spot XRP ETF launch began to circulate after a fake filing for a “BlackRock iShares XRP Trust” in Delaware was made. This cau...