Bitwise Files Application for XRP ETF

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A recent filing for a Bitwise XRP exchange-traded fund (ETF) has been discovered on the State of Division of Corporations website.

The application was filed on September 30, 2024 and the registered agent listed is CSC Delaware Trust Company. This Delaware application does not guarantee that the Securities and Exchange Commission (SEC) will formally approve the ETF in the near future.

It is likely part of the initial steps and could take several more months before the actual filing is made. The interest for an XRP ETF comes in response to Ripple CEO Brad Garlinghouse’s statement that it is “inevitable”, especially after the SEC approved ETFs for Bitcoin and Ether in the United States.

An XRP ETF, if approved, would provide institutional investors with a regulated avenue to invest in cryptocurrencies, potentially boosting the circulation of XRP.

Talks about an XRP ETF have been ongoing for months. In November 2023, a fraudulent filing for a “BlackRock iShares XRP Trust” caused a 12% increase in XRP’s value, but this application was denied by BlackRock, prompting investigations by Delaware prosecutors.