Bitwise Asset Management has updated its XRP Exchange Traded Fund (ETF) application, proposing a listing on the New York Stock Exchange (NYSE). The proposed management fee for the ETF is set at 0.34%, as detailed in their registration statement filed with the U.S. Securities and Exchange Commission (SEC). This updated filing is considered a significant step toward facilitating broader institutional investment in XRP.
The initiative is spearheaded by Bitwise, with key figures including CEO Hunter Horsley and CIO Matt Hougan, who have prior experience in crypto asset management. While no official statements have been released by Bitwise regarding the amendment, it may signify strategic plans for growth and expanded product offerings within the cryptocurrency investment space.
Market Reaction and Investor Interest
The updated filing has already generated considerable market activity for XRP, with its price experiencing a surge. Optimism among investors has contributed to this upward trend, with XRP reaching $2.51. Exchanges and investors worldwide are closely monitoring the regulatory response to this ETF amendment, which could influence future trading strategies and institutional engagement.
A successful approval of the Bitwise XRP ETF could lead to expanded access to crypto assets for a wider range of investors, potentially driving further interest from investment funds seeking to diversify their portfolios. Raoul Pal, a notable figure in the crypto space, commented that "No public commentary or response regarding Bitwise's XRP ETF has emerged yet."
Regulatory Timeline and Historical Context
The potential market entry of the Bitwise XRP ETF hinges on the scrutiny of regulatory protocols. The scheduled approval date is October 20, 2025, a critical deadline that is expected to shape market strategies and investor expectations globally. This date represents an essential milestone for the proposed ETF.
Historical trends suggest that the introduction of XRP ETFs in other markets, such as Canada, has previously led to significant price surges. This precedent indicates that a U.S. approval could similarly influence XRP's market dynamics. Continued investor focus on regulatory developments and broader market trends remains pivotal for understanding the future trajectory of XRP and related investment products.