Bitwise XRP ETF

Bitwise XRP ETF

Bitwise Asset Management, a registered investment adviser focused on cryptocurrency index funds and ETFs, filed a registration statement with the SEC in October 2024 to launch the Bitwise XRP ETF (per public filings, 2024). The fund would hold XRP directly, tracking its market price. XRP is the native digital asset of the XRP Ledger, a decentralized blockchain used for cross-border payments and value transfer. The ETF would trade on a US stock exchange subject to SEC approval of a rule change allowing XRP-based ETFs. Bitwise has existing crypto ETFs tracking Bitcoin and Ethereum. The firm manages over $5 billion in client assets across its product suite (per the firm, 2024). The XRP ETF is part of a trend toward regulated cryptocurrency products after the SEC's approval of spot Bitcoin ETFs in January 2024. No team size, office locations, or principal names have been publicly disclosed specifically for this ETF vehicle. Bitwise Asset Management employs around 100 people across its San Francisco and New York offices (per public sources). The fund's structure would bring institutional custody, audit, and liquidity to an asset currently only available through unregulated exchanges. The Bitwise XRP ETF represents a structural experiment: packaging a digital asset that has faced SEC classification uncertainty under the current regulatory framework. The fund's viability depends on SEC classification of XRP as a commodity rather than a security. Its proposed structure mirrors Bitwise's existing Bitcoin and Ethereum ETFs, with Coinbase Custody likely serving as custodian (per public filings).