Bitwise XRP ETF USD Price
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About Bitwise XRP ETF
The Bitwise XRP ETF is an exchange-traded fund proposed by crypto asset manager Bitwise, designed to provide investors with exposure to XRP, the digital asset associated with Ripple. The ETF aims to hold XRP as its primary asset, offering a way for investors to gain exposure to XRP's price movements within a regulated framework.
Bitwise filed a registration statement for the spot XRP ETF with the U.S. Securities and Exchange Commission (SEC) and has asserted in its filings that XRP is not a security. This position counters the SEC's past stance, as the agency has been involved in a legal battle with Ripple, accusing it of raising $1.3 billion through the sale of XRP, which it considers an unregistered security.
The ETF would be administered by BNY Mellon, with Coinbase Custody Trust Company serving as the custodian. Despite the legal challenges surrounding XRP, Bitwise's filing reflects a broader interest in launching spot XRP ETFs, with other firms like WisdomTree, Canary Capital, and 21Shares also submitting applications
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