According to Cointelegraph, an application for a Bitwise XRP exchange-traded fund (ETF) has been filed on the State of Delaware’s Division of Corporations website. Cointelegraph confirmed the filing with a Bitwise spokesperson.
The filing indicates that the Bitwise XRP ETF was incorporated on September 30, 2024. The registered agent for the ETF is CSC Delaware Trust Company, based in Wilmington, Delaware.
This application follows comments from Ripple’s CEO, Brad Garlinghouse, who recently suggested that an XRP ETF was “inevitable” after the launch of Bitcoin and Ether ETFs in the United States. The approval of an XRP ETF would provide institutional investors with a regulated investment vehicle to gain exposure to cryptocurrency, potentially increasing liquidity and adoption of the token.
Speculation about an XRP ETF has been ongoing. In November 2023, the price of XRP surged by 12% after a fake filing for a “BlackRock iShares XRP Trust” in Delaware led to rumors of an impending XRP ETF. BlackRock denied the application, and Delaware prosecutors are currently investigating the fraudulent filing.
This is a developing story, and further updates will be provided as more information becomes available.
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