Breaking: XRP ETF to launch in the US following Bitwise filing
- The US may see an XRP ETF following Bitwise's filing with the state of Delaware.
Asset manager Bitwise could launch an XRP ETF following a filing with the Delaware Division of Corporations on Monday. The filing revealed that the company has created a trust as a first step towards filing for an XRP ETF with the Securities & Exchange Commission (SEC).
SCOOP: Crypto asset manager @BitwiseInvest has filed in the state of Delaware for an $XRP ETF.
— Eleanor Terrett (@EleanorTerrett) October 1, 2024
More details to come. Stay tuned. pic.twitter.com/2q7zDj7aYm
This pattern is common among asset managers, who often create a trust before filing for a crypto ETF.
The move comes following a Judge finalizing the case between the SEC and Ripple in August. The digital asset platform was fined $125 million instead of the $2 billion penalty requested by the regulator.
The Judge also concluded that the sale of XRP on public exchanges did not violate securities laws.
With the case over, asset managers could be eyeing XRP as the next opportunity to launch another crypto ETF in the US.
(This story is a breaking news and will be updated accordingly.)
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