PANews reported on October 2 that according to FOX Business, crypto asset management company Bitwise submitted an initial registration statement to the U.S. Securities and Exchange Commission (SEC) on Wednesday morning, applying to launch the first XRP exchange-traded fund (ETF).
Bitwise, which reports that it manages more than $4.5 billion in assets, filed a Form S-1 registration statement with the SEC on Wednesday morning, making it the first company to formally seek approval for a so-called spot ETF that would track the daily price of XRP, the seventh-largest cryptocurrency with a market cap of more than $30 billion.
