SEC confirms submission of Bitwise Spot XRP ETF filing on February 18, 2025

The filing for a Bitwise Spot XRP Exchange-Traded Fund (ETF) has been officially recognized by the U.S. Securities and Exchange Commission (SEC). This marks a significant development in the world of cryptocurrency investment.

Bitwise Asset Management submitted the filing for the ETF, which would trade XRP, the cryptocurrency associated with Ripple. The ETF would aim to track the performance of XRP, providing investors with an opportunity to invest in this digital asset through a regulated and familiar investment vehicle.

If approved, the Bitwise Spot XRP ETF would allow investors to gain exposure to XRP without having to directly purchase and store the cryptocurrency themselves. This could attract a wider range of investors who may be interested in XRP but are hesitant to navigate the complexities of buying and holding digital assets.

The SEC’s acknowledgment of the filing is a notable step in the advancement of cryptocurrency ETFs. The SEC has previously been cautious about approving such funds due to concerns about market manipulation, liquidity, and investor protection. However, the fact that the SEC is reviewing the filing suggests a growing openness to considering cryptocurrency ETFs as a legitimate investment option.

Bitwise has a track record of submitting cryptocurrency ETF filings to the SEC, including filings for Bitcoin and Ethereum ETFs. While these filings have not yet been approved, the persistent efforts of Bitwise and other firms indicate a belief in the potential of cryptocurrency ETFs to provide investors with exposure to digital assets in a regulated and secure manner.

The launch of a Bitwise Spot XRP ETF would represent a major milestone for the cryptocurrency industry, offering increased legitimacy and accessibility to XRP as an investment option. It would also signal a shift in the regulatory environment surrounding cryptocurrency ETFs, potentially opening the door for more ETFs tied to digital assets to enter the market.

As the SEC continues to review the filing, investors and industry observers will be eagerly awaiting further developments. The potential approval of a Bitwise Spot XRP ETF could pave the way for more diversified and regulated cryptocurrency investment opportunities, bringing digital assets further into the mainstream investment landscape.