🔥 XRP ETF Rebranded by Bitwise
posted 2 hr ago
Bitwise has launched new ETPs, aiming to provide investors with diversified tools for managing cryptocurrency exposure. This strategy enhances portfolio flexibility, offering a chance to benefit from the digital asset market’s growth without direct cryptocurrency investments.
Bitwise Asset Management, a crypto index fund, has rebranded its European exchange-traded product to XRP, adopting the ticker GXRP as part of an overarching update to its European investment offerings.
Ripple, the primary issuer of XRP and a global leader in digital asset infrastructure, has announced its investment in the GXRP product.
Bitwise rebrands its XRP ETF. Source: medium
Introduced by Bitwise in 2022, GXRP is a fully collateralized XRP ETP, created under a prospectus authorized by Germany’s financial authority. Through GXRP shares, European investors can directly access XRP exposure.
Ripple CEO Brad Garlinghouse remarked:
“Global demand for exposure to the crypto asset class has exploded in 2024, fueled by a growing interest in crypto-backed investment offerings. With the U.S. regulatory environment for crypto finally becoming more clear, this trend is poised to accelerate, further driving demand for crypto ETPs, such as the Bitwise Physical XRP ETP. As one of the most valuable, liquid, and utility-driven digital assets, XRP is at the forefront of this momentum, standing out as a cornerstone for those seeking access to assets that are resilient and have real-world utility
Bitwise is pushing the boundaries of virtual currency innovation with its latest ventures: the Bitwise Aptos Staking ETP and plans for an XRP-based ETF. These moves highlight the company’s commitment to staying ahead in the evolving cryptocurrency market.
While strengthening its position in Europe, Bitwise is also demonstrating its global ambitions, as shown by its recent S-1 filing for an XRP-focused ETF in the United States.
The XRP Ledger’s expanding applications—international payments, decentralized finance, and RW-asset tokenization—are driving institutional adoption of XRP. Its speed, reliability, and efficiency make it a compelling choice, a trend reflected in its growing market value.
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