⚡ Bitwise May Launch XRP ETF, and It’s Official
posted 2 Oct 2024
Bitwise, a crypto asset management company, is taking steps to launch an XRP ETF (Exchange-Traded Fund). The company registered a trust entity in the state of Delaware, US, on October 1.
Registration of the XRP ETF trust entity on the website shows that the filing is official. Besides, a Bitwise spokesperson confirmed the news to CoinDesk. However, entity registration is only the first step toward launching the XRP ETF. The product still needs to be approved for trading.
Previously, Bitwise had already launched Bitcoin and Ethereum ETFs, which are currently available on US exchanges.
If approved, Bitwise’s investment product will be the first XRP ETF on the market. In November 2023, there were rumors that BlackRock planned to launch an XRP ETF, but the company denied them.
Cryptocurrency ETFs track the prices of assets, allowing investors to buy and sell shares of a fund on traditional exchanges. This enables investors to buy shares instead of holding cryptocurrencies directly, offering another tool for crypto investments and potentially expanding adoption.
If approved, Bitwise’s investment product will be the first XRP ETF on the market. In November 2023, there were rumors that BlackRock planned to launch an XRP ETF, but the company denied them.
Cryptocurrency ETFs track the prices of assets, allowing investors to buy and sell shares of a fund on traditional exchanges. This enables investors to buy shares instead of holding cryptocurrencies directly, offering another tool for crypto investments and potentially expanding adoption.
