[Lunch Briefing] Bitwise Registers Trust Corporation in Delaware… Expected to Launch Ripple Spot ETF

Major virtual assets are in decline.

At 1:07 PM on the 30th, Bitcoin (BTC) recorded 82.37 million won on Bithumb, down 0.90% from the previous day. Ethereum (ETH) fell 1.89% from the previous day to 3.321 million won, Binance Coin (BNB) fell 0.45% to 742,000 won, Solana (SOL) fell 2.00% to 196,200 won, and Ripple (XRP) fell 1.11% to 802 won.



At the same time, on CoinMarketCap, BTC was recorded at $61,694.64, down 3.19% from the previous day. ETH was traded at $2,486.26, down 5.48%, BNB at $554.22, down 4.02%, SOL at $147.01, down 5.29%, and XRP at $0.6012, down 3.50%.

The total market capitalization of virtual assets has fallen 3.56% from the previous day to $2.17 trillion (approximately KRW 2,862.8376 trillion). The fear and greed index of virtual asset data provider Alternative.me has fallen 8 points from the previous day to 52 points, indicating a state of ‘fear.’

Virtual asset management company Bitwise has established a trust corporation related to Ripple (XRP).

According to Cointelegraph on the 2nd (local time), Bitwise established a trust corporation in Delaware, USA on the 30th of last month. Brad Garlinghouse, CEO of Ripple Labs, said, “(The launch of an XRP spot ETF) is inevitable” when a Bitcoin (BTC) spot ETF was approved in the United States earlier this year.

The industry analyzed that the establishment of the trust corporation is a stepping stone for the launch of the XRP spot ETF. This is because asset management companies such as BlackRock and Fidelity also established trust corporations before applying for BTC and Ethereum (ETF) spot ETFs. Cointelegraph explained that “it may not take more than a few months to apply for a spot ETF with the U.S. Securities and Exchange Commission (SEC),” and “if the XRP spot ETF is approved, institutional investors will be able to provide high liquidity within the regulatory framework.”

Reporter Choi Jae-heon

chsn12@decenter.kr