- Bitwise has filed an S-1 with the U.S. Securities and Exchange Commission to launch an exchange-traded fund tied to the price of XRP, a token linked to Ripple.

- This comes after registering a trust in Delaware, giving the first hint of their intentions.

- XRP is the seventh-largest cryptocurrency with a market cap of $33 billion.

- S-1 approval can take years, as VanEck has shown with their Ethereum ETF.