Bitwise Seeks Approval for Spot XRP ETF in Latest Filing

Bitwise has filed for a spot XRP exchange-traded fund (ETF) with the Delaware Division of Corporations. Marking an early step in launching an XRP ETF.

While this does not confirm an immediate filing with the SEC, it aligns with Ripple CEO Brad Garlinghouse’s belief that an XRP ETF is inevitable. Bitwise’s move comes amid Ripple’s ongoing legal battles with the SEC over XRP’s classification, and no spot XRP ETF has been approved yet.

If approved, the ETF could provide institutional investors with a regulated entry point into the XRP market. Boosting its liquidity and appeal.

Clever Robot News Desk 2^nd October 2024