Bitwise Takes a Step Toward XRP ETF

Crypto native asset manager Bitwise is moving toward creating an exchange-traded fund tracking (XRP), the token closely associated with crypto company Ripple. The firm registered a trust entity in the state of Delaware on Tuesday, which appeared on the state’s Division of Corporations website. Registering a trust entity is a first step toward filing to list and trade shares of an ETF. A spokesperson for Bitwise confirmed that the filing was real. “We can now confirm that this is both legitimate and from Bitwise,” the spokesperson said. In November, for example, a filing for an apparent BlackRock XRP ETF appeared on the website.

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