On the morning of October 2, an application for Bitwise’s XRP Exchange Traded Fund (ETF) appeared on the Delaware Division of Corporations website. A Bitwise spokesperson also confirmed that the company had filed an ETF for the coin.
According to the filing, Bitwise’s XRP ETF is set to be established on September 30, 2024. The registered agent is listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware.
The Delaware filing does not mean Bitwise is about to file an XRP ETF application with the U.S. Securities and Exchange Commission (SEC). This is likely just an initial step, and the formal filing with the SEC could take several months to complete.
The filing comes just months after Ripple CEO Brad Garlinghouse said an XRP ETF was “inevitable” following the launch of Bitcoin and Ether ETFs in the United States. Approval of an XRP ETF would allow institutional investors to access cryptocurrencies through a regulated Investment Vehicles , potentially increasing the liquidation and adoption of the XRP Token , he said.
There has been a lot of buzz surrounding the launch of an XRP ETF in recent months. In November 2023, the price of XRP increased by 12% after a fake filing for a “BlackRock iShares XRP Trust” in Delaware sparked speculation about the possibility of an XRP ETF.
