Bitwise Files for XRP ETF, Following Ripple CEO’s Predictions of Inevitable Launch
A new filing for a Bitwise XRP exchange-traded fund (ETF) has surfaced on the Delaware Division of Corporations.
This filing, dated September 30, 2024, identifies CSC Delaware Trust Company in Wilmington as the registered agent.
However, this Delaware filing does not guarantee an immediate application for registration with the Securities and Exchange Commission (SEC). It may simply be an initial step in preparation, with an official SEC filing potentially months away.
This development follows comments from Ripple CEO Brad Garlinghouse, who suggested that an XRP ETF is “inevitable”. If approved, an XRP ETF could provide institutional investors with a regulated means to invest in cryptocurrency, which may enhance liquidity and promote broader adoption of the token.
READ MORE: Franklin Templeton Analyzes Staking Rewards and Their Impact on Token Value in Crypto Debate
There has been buzz about an XRP ETF launch recently; in November 2023, XRP’s price jumped by 12% due to false reports of a “BlackRock iShares XRP Trust” filing in Delaware, which ignited speculation about an XRP ETF. BlackRock subsequently denied the application, and Delaware authorities are investigating the misleading filing.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
