Crypto asset manager Bitwise has officially filed for its first XRP ETF. Bitwise has filed an S-1 with the SEC for its XRP ETF.
Fox Business reporter Eleanor Terrett shared the news on her X account.
Crypto asset manager Bitwise has filed a formal application and Form S-1 with the SEC for an XRP ETF, Terrett has learned.
Accordingly, Bitwise, which manages over $4.5 billion in assets, filed an S-1 form with the SEC on Wednesday morning.
This application is the first official application for XRP, the seventh largest cryptocurrency with a market value of over $30 billion.
The filing comes after Bitwise recently launched spot Bitcoin and Ethereum ETFs.
Despite this initial step, there is no guarantee that an XRP ETF would pass the SEC’s regulatory scrutiny, but Bitwise stated that it believes exposure to XRP would be a good opportunity for clients and would be approved.
Bitwise CEO Hunter Horsley told FOX Business:
“XRP is one of the most enduring, well-known assets in the space and is also very popular with mainstream investors.
“At Bitwise, we have always aimed to help investors access opportunities in the space, and we are excited to continue that work with our Bitwise XRP ETP application.”
Bitwise also announced their official filing, stating, “Today we filed our initial registration statement on Form S-1 for a new Bitwise XRP ETP.”
“We believe blockchains will bring new apolitical monetary assets and permissionless applications for the 21st century. We aim to help investors access opportunities in the space and are excited to continue this work with our Bitwise XRP ETP application,” Bitwise CEO Hunter Horsley X said in a post.
Today we filed an initial registration statement on Form S-1 for a new Bitwise XRP ETP.
“We believe blockchains will usher in new apolitical monetary assets and permissionless applications for the 21st century,” said Bitwise CEO Hunter Horsley. “We aim to help investors access…
— Bitwise (@BitwiseInvest) October 2, 2024
*This is not investment advice.
