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Bitwise Files First Ever Form S-1 for Spot XRP ETF with SEC

Oct 1, 2024, 10:54 PM

Bitwise, a prominent crypto asset manager, has officially filed for a spot XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The filing, confirmed by Bitwise's Chief Investment Officer Matt Hougan, marks the first step towards creating an ETF that would provide institutional investors with exposure to XRP. The registration was initially submitted to the Delaware Division of Corporations before being filed with the SEC on Wednesday morning. This move follows the approval of Bitcoin and Ethereum ETFs and signifies a significant step toward broader institutional adoption of XRP. Bitwise CEO Hunter Horsley stated, 'We believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century.' The firm aims to help investors access emerging opportunities in the cryptocurrency space.