Bitwise files for a registered trust entity as the first step towards launching an XRP ETF.
Nate Geraci addresses it as a short-term political move, likely a call option for the US election.
Geraci hints at the possibility of Bitwise offering XRP in an ETF wrapper.
Bitwise has planned to launch a Ripple XRP exchange-traded fund (ETF) with the Delawareâs Department of Stateâs Division of Corporations on Monday. This move comes ahead of the US election in November and could signal a potential turning point for XRP adoption. Crypto enthusiast Nate Geraci believes this is a strategic political move by Bitwise, a well-respected crypto fund manager.
Bitwise positioning to file for XRP ETF is highly noteworthy IMOâŠ
In short-term, this is likely call option on November election.
But Bitwise is highly credible crypto-native fund firm that doesnât just throw stuff at wall.
That's simply not in their DNA.
This is strategic.
â Nate Geraci (@NateGeraci) October 2, 2024
Establishing a registered trust entity is the first step towards listing and trading ETF shares. Asset managers like Bitwise, BlackRock, and Fidelity filed trust entities before launching their BitcoiâŠ
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