Bitwise Asset Management has announced the rebranding of its European XRP ETP (exchange-traded product). This is part of its broader strategy to strengthen its position in the crypto investment space.
Now called the Bitwise Physical XRP ETP (GXRP), the product represents a renewed commitment to XRP as a key investment vehicle.
Bitwise Rebrands Offering to Physical XRP ETP
The rebrand marks a significant milestone for Bitwise. The asset manager entered the European market earlier this year after acquiring ETC Group, a local crypto ETP issuer. Meanwhile, the GXRP ETP, 100% physically backed and regulated by Germany’s financial authority, offers European investors secure exposure to XRP.
This move is in line with Ripple’s announcement of an investment in GXRP, signaling confidence in XRP’s potential amid growing institutional interest. Ripple CEO Brad Garlinghouse emphasized XRP’s unique value proposition, especially in light of the growing global demand for crypto investment products.
XRP is at the forefront of momentum as a utility-driven digital asset, an excerpt from the announcement reads, quoting Garlinghouse.
He also predicted that regulatory clarity in the U.S. would spur more interest in crypto-backed offerings. Indeed, Ripple has been central to XRP adoption, leveraging the XRP Ledger (XRPL) for applications such as cross-border remittances, tokenization, and institutional DeFi. XRPL, celebrated for its efficiency and reliability, underpins XRP’s position as the fifth-largest cryptocurrency.
“XRP and the XRP Ledger are among the most familiar and trusted blockchains in crypto. We are excited to provide access via an institutional-grade product like GXRP,” said Bitwise CEO Hunter Horsley.
XRP Price Performance. Source: BeInCrypto
XRP, which has a market cap of over $82 billion, is up nearly 3% on this news. According to data from BeInCrypto, the token is trading at $1.43 at the time of writing.
XRP ETFs on the Horizon with Trump Administration
Elsewhere, Bitwise’s commitment to XRP extends beyond Europe. In October, the company revised its application for an XRP ETF in the U.S. following its initial filing earlier that month.
The submissions reflect growing momentum in the race for XRP ETFs, with competitors such as Canary Capital and, more recently, WisdomTree also entering the fray. Garlinghouse recently expressed optimism, calling the approval of an XRP ETF “inevitable.”
“We are clearly seeing that ETFs have been popular… The US SEC was dragged kicking and screaming to approve a Bitcoin ETF in January… $17 billion has flowed into the fastest growing ETF in history. This clearly demonstrates that there is demand from both institutions and retail to access the asset class,” Garlinghouse said.
Are XRP ETFs viable?
Traditional finance giants like BlackRock remain on the sidelines, with no announced plans to explore XRP ETFs. The concern is that while XRP benefits from real-world utility, its reliance on the Ripple ecosystem could limit wider adoption. This, coupled with the Ripple v. SEC lawsuit, continues to hamper an XRP ETF.
However, while the US market remains challenging, Europe offers fertile ground for crypto ETPs. Plans to introduce additional institutional-grade offerings reinforce Bitwise’s European strategy. This includes, for example, the Aptos Staking ETP launched on the SIX Swiss Exchange earlier this month.
Trump’s election could ease crypto regulatory environment
The recent re-election of Donald Trump, which many experts believe could pave the way for a more pro-crypto regulatory environment, inspires renewed optimism. Analysts suggest that Trump's victory has revitalized optimism for crypto ETFs, including XRP and Solana ETFs, as his administration is expected to adopt policies favorable to digital assets.
Bitwise, which manages over $10 billion in client assets, sees this as an opportune time to solidify its leadership in the space.
Regulatory clarity will catalyze crypto-backed investment offerings, Horsley noted.
In fact, Bitwise’s progress highlights the growing institutional interest in crypto-backed products. The company’s foray into Europe reflects its strategy of seizing global opportunities even as U.S. markets remain complex.
The article Bitwise Renames XRP ETP After Ripple Investment appeared first on BeInCrypto.
