Share this article
Bitwise Takes a Step Toward XRP ETF
Ripple's XRP barely budged after the Delaware filing was confirmed.
Updated Oct 2, 2024, 6:09 p.m. Published Oct 1, 2024, 9:24 p.m.
Make us preferred on Google
Crypto native asset manager Bitwise is moving toward creating an exchange-traded fund tracking , the token closely associated with crypto company Ripple.
The firm registered a trust entity in the state of Delaware on Tuesday, which appeared on the state’s Division of Corporations website. Registering a trust entity is a first step toward filing to list and trade shares of an ETF; companies like Bitwise, Blackrock and Fidelity all filed trust entities for bitcoin and Ethereum's ether ahead of filing for ETFs following those tokens.
STORY CONTINUES BELOW
A spokesperson for Bitwise confirmed that the filing was real.
“We can now confirm that this is both legitimate and from Bitwise,” the spokesperson said.
This isn’t the first time that rumors about a potential XRP ETF have circulated.
Similar filings, which later turned out to be illegitimate, have previously been uploaded to the website in an attempt to pump the token's price.
In November, for example, a filing for an apparent BlackRock XRP ETF appeared on the website, which was later confirmed by the asset manager to be false.
Despite the news, XRP's price has not fluctuated much Tuesday, though much of the broader market fell heavily over the past 24 hours.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
El Salvador's central bank buys $50 million of gold as government keeps adding bitcoin
The bitcoin-friendly nation's central bank now holds over $360 million of the yellow metal, while the government, led by President Nayib Bukele, has bitcoin holdings worth $635 million.
What to know:
- El Salvador's central bank added $50 million of gold to its reserves on Thursday.
- The country also made its usual purchase of 1 bitcoin, bringing the government’s holdings to 7,547 coins, worth $635 million.
Top Stories
