Bitwise has made waves by officially filing an S-1 with the SEC for an exchange-traded fund linked to Ripple's XRP, just a day after registering an "XRP ETF" trust in Delaware. CEO Hunter Horsley announced the move on X, emphasizing XRP’s long-standing appeal among investors.

XRP, currently the seventh-largest cryptocurrency with a $33 billion market cap, is now in a race with bitcoin and Ethereum, which already have ETF options available. However, while the S-1 filing is a key step, Bitwise will need to follow up with a 19b-4 filing to prompt a rule change for exchange listing—a process that can take years, as seen with other firms.

Industry expert Nate Geraci noted that Bitwise's serious approach makes this effort particularly significant.

Bitwise has made waves by officially filing an S-1 with the SEC for an exchange-traded fund linked to Ripple's XRP, just a day after registering an "XRP ETF" trust in Delaware. CEO Hunter Horsley announced the move on X, emphasizing XRP’s long-standing appeal among investors.

XRP, currently the seventh-largest cryptocurrency with a $33 billion market cap, is now in a race with bitcoin and Ethereum, which already have ETF options available. However, while the S-1 filing is a key step, Bitwise will need to follow up with a 19b-4 filing to prompt a rule change for exchange listing—a process that can take years, as seen with other firms.

Industry expert Nate Geraci noted that Bitwise's serious approach makes this effort particularly significant.