Bitwise Applies for XRP ETF, May Drive Institutional Investment

Bitwise filed an application for an XRP exchange-traded fund (ETF) on the website of the Delaware Department of Corporations, according to Cointelegraph, a Bitwise spokesperson confirmed.

According to the filing, the Bitwise XRP ETF was registered on September 30, 2024, and the registered agent is CSC Delaware Trust Company in Wilmington, Delaware.

Ripple CEO Brad Garlinghouse has said that an XRP ETF is “inevitable” following the launch of Bitcoin and Ether ETFs in the US.

Approval of the XRP ETF will allow institutional investors to access cryptocurrencies through regulated investment vehicles, potentially boosting liquidity and token adoption.

In November 2023, a false application for the “BlackRock iShares XRP Trust” sparked rumors of an XRP ETF, leading to a 12% increase in the price of XRP. The application was denied by BlackRock and is being investigated by the Delaware State Attorney.