According to Fox Business, Bitwise submitted the first S-1 application for the XRP exchange-traded fund (ETF), becoming the first company to apply for an XRP-based spot ETF. The application was submitted to the U.S. Securities and Exchange Commission on Wednesday morning. Bitwise CEO Hunter Horsley said that XRP is one of the most well-known and enduring assets in the crypto space and has the potential to attract mainstream investors.