According to Cointelegraph, Bitwise has filed an application for an XRP exchange-traded fund (ETF) on the Delaware Division of Corporations website. A Bitwise spokesperson confirmed the application.
The filing shows that the Bitwise XRP ETF was registered on September 30, 2024, and the registered agent is CSC Delaware Trust Company in Wilmington, Delaware.
Ripple CEO Brad Garlinghouse has said that an XRP ETF is “inevitable” following the launch of Bitcoin and Ether ETFs in the United States.
Approval of an XRP ETF would allow institutional investors to gain exposure to the cryptocurrency through a regulated investment vehicle, potentially boosting liquidity and token adoption.
In November 2023, a fake application for "BlackRock iShares XRP Trust" sparked rumors of an XRP ETF, causing the price of XRP to rise by 12%. The application was denied by BlackRock and Delaware prosecutors are investigating the matter.
