Bitwise and Grayscale are pushing forward with new exchange-traded funds tied to XRP and Dogecoin, even as the U.S. Securities and Exchange Commission operates with limited capacity during the government shutdown. The two firms disclosed management fees for their upcoming funds, signaling growing competition among asset managers to launch crypto-based ETFs.
Bitwise revealed a 0.34% fee for its proposed Bitwise XRP ETF, while Grayscale announced a 0.35% fee for its own XRP ETF. Grayscale also set the same fee for its Dogecoin ETF, according to recent filings. These announcements come shortly after both firms launched Solana ETFs, which attracted strong investor interest.
Bitwise’s Solana fund brought in about $56 million on its first day, marking the largest first-day inflow for any ETF this year.
Non-Traditional Launch Route Gains Momentum
Amid the SEC’s limited operations, asset managers are adopting alternative approaches to bring their products to market. Grayscale is following a similar strategy to the one used for its Solana ETF, moving forward with the XRP fund without waiting for direct SEC approval.
Bitwise has taken a similar stance, aiming to capitalize on current conditions that allow ETFs to proceed without formal sign-off.
According to Nate Geraci, president of NovaDius Wealth Management, the first spot XRP ETFs could launch within the next two weeks. He suggested that this development reflects a broader shift in the regulatory climate following years of legal challenges involving Ripple Labs and the SEC.
SEC Guidance Opens Door for Faster ETF Launches
The SEC’s reduced workforce during the government shutdown has slowed its review process. However, the agency previously approved updated listing standards that could allow several crypto ETF applications to move forward more quickly.
A week after the shutdown began, the SEC issued new guidance permitting companies to file S-1 registration statements without adding delaying amendments. This change means that ETFs can automatically go into effect after 20 days if all requirements are met.
As a result, issuers like Bitwise and Grayscale may be able to list their XRP and Dogecoin ETFs without formal SEC approval. The ongoing wave of filings and fee disclosures shows that digital asset managers are pressing ahead despite regulatory uncertainty, signaling a potential turning point for spot crypto ETFs in the United States.
XRP Community Anticipates Strong Inflows
Just recently, excitement grew within the XRP community after Bitwise Chief Investment Officer Matt Hougan expressed strong optimism about the upcoming XRP ETF. His remarks, shared by ETF analyst Nate Geraci on X, attracted widespread attention from investors expecting XRP to gain significant traction in the ETF market.
Hougan predicted that inflows into the proposed XRP ETF will “dramatically exceed expectations,” citing strong institutional and retail demand that could keep investor interest sustained.