Crypto asset manager Bitwise is the first XRP It has officially applied for its ETF. Bitwise has filed an S-1 with the SEC for its XRP ETF.
news Fox Business correspondent Eleanor Terrett He announced it with a post from his X account.
Crypto asset manager Bitwise has filed a formal application and form S-1 with the SEC for an XRP ETF, Terrett has learned, FOX Business has learned. said.
Accordingly, Bitwise, which manages over $4.5 billion in assets, filed an S-1 form with the SEC on Wednesday morning.
This application was the first official application for XRP, the seventh largest cryptocurrency with a market value of over $30 billion.
The filing comes after Bitwise recently launched spot Bitcoin and Ethereum ETFs.
Despite this first step, there is no guarantee that an XRP ETF will pass regulatory scrutiny from the SEC, while Bitwise believes that exposure to XRP will be a good opportunity for clients and will be approved.
Bitwise CEO Hunter Horsley He told FOX Business:
“XRP is one of the most persistent, well-known assets in the space and is also extremely popular among mainstream investors.
“At Bitwise, we have always aimed to help investors access opportunities in the space, and we are excited to continue this work with our Bitwise XRP ETP application.”
Bitwise also announced their official filing, saying, “Today we filed our first registration statement on Form S-1 for a new Bitwise XRP ETP.” he said.
“We believe blockchains will bring new apolitical monetary assets and permissionless applications for the 21st century,” Bitwise CEO Hunter Horsley “We aim to help investors access opportunities in the space and are excited to continue this work with our Bitwise XRP ETP application.” he said.
Today we filed an initial registration statement on Form S-1 for a new Bitwise XRP ETP.
“We believe blockchains will usher in new apolitical monetary assets and permissionless applications for the 21st century,” said Bitwise CEO Hunter Horsley. “We aim to help investors access…
— Bitwise (@BitwiseInvest) October 2, 2024
*This is not investment advice.
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