Crypto native asset manager Bitwise on September 30, 2024, registered an XRP ETF trust entity in the U.S. state of Delaware, which is a first step toward filing to list and trade shares of an ETF. Per the filing, the proposed fund would hold XRP directly. XRP barely budged upon the news.

Bitwise confirmed the initial registration on October 2 – with Ripple CEO Brad Garlinghouse sensing that “this is just the beginning.”

In its press release Bitwise states that “we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century. It’s why for the past seven years we’ve helped investors access the opportunities in the space, and we’re excited to continue that work with our filing for a Bitwise XRP ETP.”

Bitwise CEO Hunter Horsley posts on X: “For more than a decade, XRP has been an enduring crypto asset that many investors want exposure to.”

First BTC, then ETH…it was only a matter of time.

This move underscores the growing trust & integration of digital assets like XRP into traditional finance, marking the continued adoption and maturation of the crypto market. I sense this is just the beginning. https://t.co/s1pHpIEqth

— Brad Garlinghouse (@bgarlinghouse) October 2, 2024