Bitwise Asset Management has filed for an XRP ETF in Delaware, according to reports. The filing was confirmed by an anonymous spokesperson from the company, signaling that the move is genuine.
A Surprising Move
The filing, submitted on September 30, was made public through the Delaware Department of State’s website. Bitwise registered the ETF under the name “Bitwise XRP ETF” with CSC Delaware Trust Company as the registered agent. Delaware is often chosen for corporate filings due to its business-friendly regulations, making it a popular location for such ventures.
This filing comes as a surprise, given the uncertainty around regulatory approval for such ETFs. The SEC has yet to show clear support for an XRP ETF, but Bitwise appears determined to push forward.
Bitwise’s Growing ETF Portfolio
Bitwise is not alone in the ETF market with this strategy. The business has been growing the range of ETFs it offers, and it recently acquired a European cryptocurrency ETP provider. Chief Investment Officer Matt Hougan was upbeat about the impending approval of ETFs just a month ago.
Though it’s uncertain how the SEC will react, Bitwise’s continued efforts to take the lead in the cryptocurrency ETF market are demonstrated by this daring submission. Executives at Ripple are still optimistic that regulators would finally approve XRP.
