Bitwise has filed the revised S-1 registration statement with the SEC on October 16.
The filing clarifies the trust’s structure, asset custody & procedures for creating & redeeming shares.
Considering the regulatory pressures surrounding XRP, the SEC’s ETF approval remains uncertain.
Asset manager Bitwise filed an updated S-1 registration statement for its XRP exchange-traded fund (ETF) on October 16. The revised statement provides more details on the trust’s structure, asset custody, and share creation and redemption procedures. This move underscores the firm’s commitment to launch a compliant investment product for Ripple’s XRP.
Bitwise’s updated S-1 registration follows its initial filing on October 2, which marked the asset manager’s first step toward launching an XRP ETF. The firm also applied for a “Bitwise XRP ETF” entity with Delaware’s Division of Corporations. Crypto experts like Nate Geraci have suggested this could be a political strategy ahead of the November election.
The updated filing outlines Bitwise’s security measures for its proposed XRP-based ETF. The XRP Custodian will store the Trust’s assets in secure cold storage, transferring …
The post Bitwise Files Updated XRP ETF Registration With the SEC appeared first on Coin Edition.
