Bitwise Physical XRP ETP (GXRP) offers regulated access to XRP, trading on Deutsche Börse Xetra with Ripple's backing.
XRP's growing utility in payments and DeFi drives its adoption, with GXRP boasting over $80M in assets under management.
Bitwise expands its European crypto ETP offerings, filing for an XRP spot ETF in the U.S. amid surging demand in 2024.
Bitwise Asset Management has introduced the newly rebranded Bitwise Physical XRP ETP (GXRP), offering institutional-grade exposure to XRP. The product, trading on Germany’s Deutsche Börse Xetra, is 100% physically backed and caters to European investors. Ripple has also invested in the fund, showing its commitment to expanding XRP’s adoption in financial markets.
https://twitter.com/BitwiseInvest/status/1861776893445636311
Ripple Invests as Bitwise Rebrands European XRP ETP
Formerly issued by ETC Group, the Bitwise Physical XRP ETP is part of a strategic rebranding of Bitwise’s European product suite. The fund, launched in 2022 under a German regulator-approved prospectus, is designed for institutional investors seeking regulated access to XRP. Ripple’s involvement highlights growing institutional interest in digital assets as regulatory clarity emerges across key markets.
XRP, the fifth-largest cryptocurrency by market capitalization, is increasingly utilized for real-world applications like cross-border payments and tokenization. Bitwise CEO Hunter Horsley emphasized XRP’s reliability and utility, citing the XRP Ledger’s decade-long track record and its expanding capabilities. These factors have made XRP a cornerstone for investment products like GXRP.
XRP’s Role in Expanding Crypto Asset Demand
XRP’s value is driven by the XRP Ledger’s efficiency, particularly in enabling financial services like institutional DeFi and remittances. Brad Garlinghouse, CEO of Ripple, noted that global demand for digital asset-backed investment products has surged in 2024, partly due to clearer U.S. crypto regulations. The increasing popularity of crypto exchange-traded products (ETPs) reflects the growing adoption of blockchain assets with tangible real-world applications.
The Bitwise Physical XRP ETP benefits from XRP’s strong liquidity and established utility. With over $80 million in assets under management, it demonstrates increasing investor confidence in blockchain infrastructure.
Bitwise Expands with New European Offerings
Bitwise has experienced growth in 2024, surpassing $10 billion in total client assets. Following its acquisition of ETC Group in August, the firm has enhanced its European operations by rebranding its ETP portfolio.
Notably, Bitwise recently launched the Aptos Staking ETP on Switzerland’s SIX Swiss Exchange and filed a Form S-1 to register an XRP spot ETF in the U.S., signaling its ambition to broaden institutional-grade crypto offerings worldwide.
