XRP ETF to launch in US after Bitwise filing

• The US could see an XRP ETF following Bitwise’s filing with the state of Delaware.

Asset manager Bitwise may launch an XRP ETF following a filing with the Delaware Division of Corporations on Monday. The filing revealed that the company created a trust as a first step toward filing an XRP ETF with the Securities & Exchange Commission (SEC).

This model is common among asset managers, who often create a trust before applying for a crypto ETF.

The move follows a judge finalizing the case between the SEC and Ripple in August. The digital asset platform was fined $125 million instead of the $2 billion penalty sought by the regulator.

The judge also concluded that the sale of XRP on public exchanges did not violate securities laws.

With the case over, asset managers could look to XRP as the next opportunity to launch another crypto ETF in the US.

(This story is breaking news and will be updated accordingly.)