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Bitwise expands crypto offerings with new ETF application.
Key Takeaways
Bitwise has officially filed an S-1 with the SEC for an XRP ETF. The filing marks Bitwise's first attempt at launching an XRP-based ETF. <?xml encoding="UTF-8"?>Bitwise, a key player in the crypto asset management sector, has officially submitted an S-1 registration form to the SEC to launch an XRP ETF. The filing comes shortly after the firm filed to establish a trust entity for a potential XRP ETF in Delaware.
The filing, dated October 2, marks a huge step forward in ongoing efforts to bring an XRP ETF to the US market and to expand its investment offerings. If approved, the Bitwise XRP ETF would provide investors with a regulated and efficient way to gain exposure to Ripple’s XRP token.
ETF experts have warned that Bitwise’s bid for an XRP ETF could falter if the SEC appeals the Ripple ruling, which determined that XRP sales to retail on secondary markets are not securities.
This is a developing story. We will give an update as we learn more.
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