Bitwise files for a registered trust entity as the first step towards launching an XRP ETF.
Nate Geraci addresses it as a short-term political move, likely a call option for the US election.
Geraci hints at the possibility of Bitwise offering XRP in an ETF wrapper.
Bitwise has planned to launch a Ripple XRP exchange-traded fund (ETF) with the Delaware’s Department of State’s Division of Corporations on Monday. This move comes ahead of the US election in November and could signal a potential turning point for XRP adoption. Crypto enthusiast Nate Geraci believes this is a strategic political move by Bitwise, a well-respected crypto fund manager.
Bitwise positioning to file for XRP ETF is highly noteworthy IMO…
In short-term, this is likely call option on November election.
But Bitwise is highly credible crypto-native fund firm that doesn’t just throw stuff at wall.
That's simply not in their DNA.
This is strategic.
— Nate Geraci (@NateGeraci) October 2, 2024
Establishing a registered trust entity is the first step towards listing and trading ETF shares. Asset managers like Bitwise, BlackRock, and Fidelity filed trust entities before launching their Bitcoi…
The post Bitwise Files for Ripple XRP ETF Ahead of US Election appeared first on Coin Edition.
