Bitwise is set to launch its XRP ETF tomorrow, according to Bloomberg analyst James Seyffart. His update follows new signals pointing to coordinated movement across multiple issuers, with Grayscale and Franklin Templeton also preparing for possible November 24 releases. The developments place XRP at the center of a rapid expansion in regulated crypto investment products.
Bitwise XRP ETF Goes Live on Bloomberg Terminal
Seyffart confirmed that the XRP ETF from Bitwise can now be found on the Bloomberg terminal. The fund is referenced with the Elite ticker XRP on the description page. He added that terminal listings usually get turned on shortly before an ETF comes to market. This development suggests that Bitwise is in the last stages before its launch.
Source: XThe Bitwise listing includes key identifiers needed for integration across trading desks and institutional systems. Such details usually appear shortly before a product becomes accessible. Seyffart said the timing supports expectations that the ETF will debut tomorrow.
It makes since considering Grayscale is working on their own XRP ETF preparations. Grayscale has amended its XRP Trust filings to facilitate switching it to a spot ETF. The trust currently provides accredited investors with exposure through a reference-rate-based model. New amendments also reveal the adoption of a changed reference rate provider that impacts value calculations in the product.
Grayscale and Franklin Templeton Eyes Nov. 24
Grayscale announced its plan to change the product name and pursue an anticipated listing for Grayscale XRP Trust. The platform signaled that its XRP Trust ETF (GXRP) is close to launch on Novmeber 18.
In a recent X post, Seyffart revelaed that Grayscale’s XRP ETF will be launched on November 24. He also mentioned the company’s upcoming Dogecoin ETF that it wants to debut on the same day. His update suggests a coordinated rollout time frame among the various issuers.
There is also sign that Franklin Templeton is also preparing for an XRP ETF launch. Seyffart mentioned its XRP ETF could go live on November 24, as well. Recent filings indicate continuing procedural developments. the an earlier thought for a date.
Analyst Zack Rector set out the next steps for XRP ETF issuers and explained who has initiated the SEC’s 20-day automatic countdown. The clock starts when issuers amend their S-1 filings to remove the delay clause.
According to the analyst, Spot ETFs don’t require the explicit approval of the SEC once that clause is removed. The 20-day period advances by itself and the product can be launched once it arrives at the end of the timeline. He also threw out the Nov. 18 date for Franklin Templeton, saying no filing supports it.
These actions reflect those taken by Canary Capital during the U.S. government shutdown. The firm released its Litecoin, XRP, Bitwise and Grayscale Solana products through the same automatic-effectiveness process.
Bitwise looks set to debut tomorrow, and it’s not alone in the league of close issuers. XRP becoming one of the most active times in a new regulated ETF market.
Source: https://coingape.com/bitwise-xrp-etf-set-to-launch-tomorrow-bloomberg-analyst/
