Bitwise Files for XRP ETF Amid Crypto Demand Surge

Bitwise's Ambitious Move for an XRP ETF

Bitwise Asset Management has made a bold move by filing an application for a U.S.-based exchange-traded fund (ETF) focused on XRP, which is the world's seventh largest cryptocurrency by market value. According to Bitwise's S-1 registration statement submitted to the Securities and Exchange Commission (SEC), the Bitwise XRP ETP will directly hold XRP. This application comes shortly after Grayscale Investments introduced an XRP trust as part of its cryptocurrency investment products, sparking industry speculation about the potential for a Grayscale XRP ETF.