Bitwise hopes to launch another major cryptocurrency exchange-traded fund (ETF), confirming to Decrypt that an application for an XRP fund filed with the state of Delaware is legitimate.

The application to launch the ETF based on XRP—the seventh-largest cryptocurrency by market cap, created by the founders of payments platform Ripple—comes following SEC approvals of Bitcoin and Ethereum ETFs from various firms earlier this year.

Editor's note: This story is breaking and will be updated with additional details.