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The crypto-focused asset manager filed the exchange-traded fund application in the state of Delaware.
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An application for a Bitwise XRP exchange-traded fund (ETF) has appeared on the State of Delaware’s Division of Corporations website. Cointelegraph independently confirmed the filing with a Bitwise spokesperson.
According to the filing, the Bitwise XRP ETF was incorporated on Sept. 30, 2024. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.
The application comes just a few months after Ripple’s CEO, Brad Garlinghouse, hinted about the upcoming financial product, describing an XRP ETF as “inevitable” following the launch of Bitcoin and Ether ETFs in the United States.
Bitwise’s XRP ETF filing. Source: Delaware’s Department of State
The approval of an XRP ETF would allow institutional investors to gain exposure to cryptocurrency through a regulated investment vehicle, potentially boosting liquidity and token adoption.
Rumors have circulated about an XRP ETF launch in recent months. In November 2023, the price of XRP surged by 12% after a fake filing for a “BlackRock iShares XRP Trust” in Delaware sparked speculation over a potential XRP ETF.
The application was denied by BlackRock, and Delaware prosecutors are now looking into the deceptive filing.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
