Bitwise rebrands XRP ETP and announces Ripple investment in product

Bitwise Asset Management recently made some exciting changes to its European product suite, starting with a rebranding of its XRP exchange-traded product. This product is now known as the Bitwise Physical XRP ETP, previously called the ETC Group Physical XRP. Ripple, a key player in digital asset infrastructure, has also announced plans to invest in this newly revamped product.

XRP, which holds the title of the fifth-largest crypto asset globally with a market cap exceeding $80 billion, has been gaining popularity due to its expanding use cases on the XRP Ledger (XRPL). This technology is being utilized in various areas such as cross-border remittances, institutional DeFi, and tokenization in the real world. The XRPL is known for its speed, efficiency, and reliability, making it a valuable tool for many financial services firms.

European investors can now access XRP through the Bitwise Physical XRP ETP (GXRP). Launched in 2022 by Bitwise (previously ETC Group), this ETP is 100% physically backed and has been issued under the approval of Germany’s financial regulator.

CEO and Co-Founder of Bitwise, Hunter Horsley, expressed his excitement about providing investors with access to XRP through an institutional quality product like the Bitwise Physical XRP ETP (GXRP). Ripple CEO, Brad Garlinghouse, highlighted the surging global demand for exposure to the crypto asset class in 2024. He emphasized the importance of crypto-backed investment offerings in today’s market, particularly with the clearer regulatory environment in the US.

In 2024, Bitwise has experienced significant growth, surpassing $10 billion in total client assets. The acquisition of ETC Group, a prominent European ETP issuer, earlier this year has positioned Bitwise for strategic expansion in Europe. Bitwise is set to launch additional institutional-grade crypto products, such as the Bitwise Aptos Staking ETP and an XRP spot ETF filing in the US.

For more details on the Bitwise Physical XRP ETP, including ISIN number and fees, visit their official product page. To explore their full range of products and exchange listings, head to their website at https://etc-group.com/products/.

Bitwise is a prominent crypto asset management firm, working with thousands of financial advisors, family offices, and institutional investors worldwide. They offer a variety of index and active solutions across ETPs, managed accounts, private funds, and hedge fund strategies in both the US and Europe. In Europe, Bitwise (formerly ETC Group) has developed an extensive suite of innovative crypto ETPs over the past four years, including Europe’s largest bitcoin ETP. These products are domiciled in Germany and approved by BaFin, offering investors secure and robust access to the crypto asset class.

For media inquiries, please contact JEA Associates at the provided number. And for more information about Bitwise and their products, visit www.bitwiseinvestments.com/eu.

It’s an exciting time in the world of crypto investment, and with companies like Bitwise leading the way, investors have more opportunities than ever to explore this dynamic market.