Bitwise Aims to Launch First Spot XRP ETF Pending SEC Approval

Bitwise Asset Management is seeking SEC approval to launch a spot XRP ETF, allowing investors to gain direct exposure to XRP through traditional brokerage accounts.

The proposed ETF will hold XRP, with Coinbase Custody Trust providing digital asset custody services. The ETF’s valuation will be based on a pricing benchmark from CF Benchmarks Ltd. Pending regulatory approval, the launch could offer easier access to XRP investment. Meanwhile, XRP remains at the center of Ripple’s ongoing legal battle with the SEC, with a potential appeal decision expected by October 7.

Clever Robot News Desk 3^rd October 2024