XRP ETF Filing: Bitwise Seeks SEC Approval Amid Legal Ambiguity
XRP ETF Filing: Bitwise Seek SEC Approval XRP ETF Amid Legal Challenge
Bitwise Asset Management has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch a new Exchange-Traded Fund (ETF) focused on XRP, the cryptocurrency associated with Ripple Labs.
The proposed Spot XRP ETF aims to offer investors a regulated way to gain exposure to XRP without directly holding the asset. This filing marks a significant move by Bitwise, a key player in the cryptocurrency investment sector, as they look to expand their offerings and meet the growing demand for digital asset exposure among institutional and retail investors.
The Spot XRP ETF would be managed by BNY Mellon, with Coinbase Custody Trust Company handling the custody of XRP, bringing well-established financial institutions into the equation for added security and credibility.
By providing a regulated method to invest in XRP, Bitwise is helping to bridge the gap between traditional finance and the evolving cryptocurrency market.
