What to Know:
- Bitwise has officially submitted its Form 8-A for a spot XRP ETF, signaling a potential new investment avenue for XRP.
- The proposed ETF, named Bitwise XRP ETF, is incorporated in Delaware and headquartered in San Francisco.
- Coinbase, a leading U.S.-based crypto exchange, is slated to be the custodian of the new XRP investment product.
The crypto market is buzzing with anticipation as Bitwise officially submitted its Form 8-A for a spot XRP ETF. This move could potentially open new doors for investors looking to gain exposure to XRP through traditional financial instruments. The proposed ETF is poised to trade on the NYSE under the ticker “XRP.”
The Bitwise XRP ETF is structured to align with SEC regulations, with its launch expected imminently. Coinbase, a prominent U.S.-based crypto exchange, is on board as the custodian for the ETF. This collaboration adds a layer of security and trust, potentially attracting a broader range of investors.
The ETF is formally named the Bitwise XRP ETF, incorporated in Delaware and based in San Francisco. While final SEC approval is still pending, all necessary components appear to be in place for a swift launch. This development could mark a significant milestone for XRP, potentially increasing its accessibility to mainstream investors.
The potential launch of a spot XRP ETF is a notable development for the crypto space, especially following the success of Bitcoin ETFs. As regulatory landscapes evolve, such investment products could play a key role in bridging the gap between traditional finance and digital assets. Investors will be watching closely for further announcements from the SEC and NYSE.
Source: Original article
