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Subject to approval from the SEC, the potential Bitwise XRP ETF is designed to provide exposure to the value of XRP held directly by the trust.
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Cryptocurrency asset manager Bitwise has officially filed for the first XRP (XRP) exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC).
The potential Bitwise XRP ETF, subject to approval from the SEC, is designed to provide exposure to the value of XRP held by the trust, “less the expenses of the trust’s operations and other liabilities,” the filing reads.
Source: Bitwise
“At Bitwise, we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century,” Bitwise CEO Hunter Horsley said in a press release announcing the news on Oct. 2.
“It’s why for the past seven years we’ve helped investors access the opportunities in the space, and we’re excited to continue that work with our filing for a Bitwise XRP ETP,” he added.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
