A distinguished participant within the crypto funding area is submitting for a brand new digital asset exchange-traded fund (ETF) with the U.S. Securities and Alternate Fee (SEC).
In line with a Fox Enterprise Report, Bitwise Asset Administration, the biggest crypto index fund supervisor within the US, has filed to launch a spot ETF for XRP, the native token of the XRP Ledger.
On Wednesday morning, Bitwise, which manages $4.5 billion in property, submitted an S-1 registration assertion to the SEC for a spot XRP ETF monitoring the worth actions of XRP, based on the report.
Bitwise has already efficiently launched ETFs in the USA for Bitcoin (BTC) and Ethereum (ETH).
Whereas main crypto corporations like VanEck and 21Shares have submitted similar applications for a spot Solana (SOL) ETF, Bitwise CEO Hunter Horsley explains why his agency selected to go a unique route.
“XRP is among the most enduring, well-known property within the area and can also be acknowledged amongst mainstream traders.
At Bitwise we’ve at all times aimed to assist traders entry the alternatives within the area, and we’re excited to proceed that work with our submitting for a Bitwise XRP ETP (exchange-traded product).”
The SEC has but to answer the submitting or problem an announcement on the potential of an XRP ETF.
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Featured Picture: Shutterstock/Eduard Muzhevskyi
