Crypto News Today: Bitwise Submits Final S-1 Filing for XRP ETF Launch

Bitwise submits final S-1 filing for XRP ETF, signaling imminent SEC approval. The ETF will trade on NYSE with a 0.34% fee.

Bitwise has taken a crucial step toward launching its XRP exchange-traded fund (ETF) by submitting its final S-1 filing with the U.S. Securities and Exchange Commission (SEC). The submission signals that the approval process for the ETF is nearing its final stages. Industry experts suggest that approval could happen within weeks, marking a significant moment for the cryptocurrency market.

Bitwise Submits Final Filing for XRP ETF

Bitwise recently filed Amendment No. 4 for its XRP ETF with the SEC. This filing includes two key details that analysts often see just before an ETF launch. The proposed XRP ETF will trade on the New York Stock Exchange (NYSE) and will have a management fee of 0.34%. 

According to Bloomberg analyst Eric Balchunas, these final additions are typically a sign that approval is close. Balchunas called them “the last boxes to check,” indicating that the ETF could launch soon.

This filing marks a critical milestone in Bitwise’s efforts to bring its XRP ETF to market. Once the SEC grants approval, the ETF could be ready for trading in a relatively short time. As the crypto space continues to grow, this move could attract institutional investors who are increasingly looking for more access to digital assets like XRP.

Other Firms Follow Suit with XRP ETF Filings

Bitwise is not the only firm preparing to launch an XRP-related ETF. Other firms, including VanEck and Fidelity, have also made updates to their XRP filings. Canary Funds, for example, removed a “delaying amendment” that often holds up an ETF’s automatic registration. 

This procedural change could allow Canary Funds’ spot XRP ETF to launch as soon as mid-November.

This growing activity in the XRP ETF space signals increasing optimism about the future of digital asset products. With regulatory clarity surrounding these assets continuing to improve, the market is seeing a surge in ETF filings related to XRP. The SEC’s approval of these filings could pave the way for broader adoption of cryptocurrency ETFs in the U.S. market.

Final Approvals and Growing Interest in XRP ETFs

Both Bitwise and Canary Funds have submitted their Form 8-A filings to Nasdaq, an important step in the approval process. This means that the final approval from the SEC is the last remaining hurdle before these ETFs can begin trading. However, the approval timeline could change if the U.S. government resumes operations before the mandatory 20-day waiting period ends.

Interest in XRP and XRP-related products continues to grow, driven by increasing institutional demand. Recently, the REX-Osprey XRP ETF surpassed $100 million in assets under management. The addition of new XRP derivatives by CME Group further highlights the increasing interest in XRP among professional traders.

Bitwise’s filing for its XRP ETF comes on the heels of the successful launch of its Solana ETF. The launch of the Solana ETF, which saw $44 million in new inflows last week, has sparked investor interest in emerging layer-1 assets. Some analysts believe that XRP may be the next destination for capital from investors looking for new opportunities beyond Bitcoin and Ether.

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