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Bitwise to announce new cryptocurrency ETP in Europe by end of 2024?
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Ripple•Bitwise Physical XRP ETP•ETC Group Physical XRP•European•Germany•Deutsche Börse Xetra•Brad Garlinghouse•Bitwise
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Press releases from Bitwise or financial news outlets
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Ripple's Brad Garlinghouse Announces Investment in Bitwise Physical XRP ETP (GXRP) Following 10% Price Surge
Nov 27, 2024, 02:06 PM
Ripple has announced plans to invest in the newly rebranded Bitwise Physical XRP ETP (GXRP), which has over $80 million in assets under management (AUM). The product, previously known as the ETC Group Physical XRP, is designed to provide institutional-grade access to XRP for European investors and is currently trading on Germany’s Deutsche Börse Xetra. This investment comes amid increasing institutional interest in cryptocurrency assets, and Ripple's CEO, Brad Garlinghouse, noted that the XRP price surged by as much as 10% following the announcement. The rebranding of the ETP is part of Bitwise's strategy to expand its presence in the European market.
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