Bit files Form S-1 for XRP ETF

Share this article

Bitwise, a key player in the crypto asset management sector, has officially filed an S-1 registration form with the SEC to launch an XRP ETF. The Oct. 2 filing comes shortly after the firm filed on Monday to set up a trust entity for a potential XRP ETF in Delaware.

The move marks a huge step forward in Bitwise’s efforts to bring an XRP ETF to the US market and expand its investment offerings. If approved, the Bitwise XRP ETF would provide investors with a regulated and efficient way to gain exposure to the digital asset that powers the public XRPL blockchain.

“At Bitwise, we believe blockchains will introduce new apolitical monetary assets and permissionless applications for the 21st century,” Bitwise CEO Hunter Horsley said in a recent press release. “That’s why, for the past seven years, we’ve helped investors access opportunities in the space, and we’re excited to continue that work with our filing for a Bitwise XRP ETP.”

However, ETF experts warned that Bitwise’s bid for an XRP ETF could fall if the SEC appeals Ripple’s ruling, which ruled that retail sales of XRP on secondary markets are not securities.

This is a developing story. We will provide an update as we learn more.

Share this article