Ripple CEO Expects More Filings Following Bitwise XRP ETF Application

Ripple CEO Brad Garlinghouse has predicted more asset managers could also file to offer an XRP ETF following Bitwise’s filing of the S-1 form for its Bitwise XRP ETF.

Garlingouse also highlighted how significant this development is for XRP adoption, especially in traditional finance (TradFi).

Ripple CEO Expects More XRP ETFs Filings Following Bitwise Application

Brad Garlinghouse stated in an X post that this is just the beginning following Bitwise’s filing of the S-1 form for its Bitwise XRP ETF. Therefore, the Ripple CEO expects that more asset managers could file to offer an XRP ETF like Bitwise.

Garlinghouse also claimed that the application for an XRP wasn’t only a matter of time, seeing as the Spot Bitcoin and Ethereum ETFs had been approved earlier in the year.

In May earlier this year, he stated that an XRP ETF was inevitable and would happen at some point. The Ripple CEO was also convinced that this would happen, considering that Analisa Torres had already declared that XRP isn’t a security in itself.

Meanwhile, the Ripple CEO stated that the move by Bitwise underscores the growing trust and integration of digital assets like XRP into TradFi. He added this marks the continued adoption and maturation of the crypto market.

Although Grayscale excluded XRP from its Q4 top 20 crypto picks, the asset manager could be one of the next asset managers to file for an XRP ETF. It is worth mentioning that Grayscale recently launched its Grayscale XRP Trust, which the asset manager could easily apply to the SEC to convert to an ETF.

Bitwise Files S-1 Form For XRP

Bitwise confirmed in a press release that it had filed the S-1 form for its Bitwise XRP ETF with the US Securities and Exchange Commission (SEC). This fund will hold XRP directly and offer institutional investors the opportunity to gain exposure to the crypto token.

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