Asset Manager Bitwise Files Application to Launch an XRP ETF

Crypto asset manager Bitwise has announced its plans to create an exchange-traded fund tracking XRP, the digital currency closely associated with Ripple.

The company registered a trust entity in Delaware, a necessary step in the process of applying to list and trade shares of an ETF.

Other companies like Bitwise, BlackRock, and Fidelity also filed trust entities for bitcoin and Ethereum before applying for ETFs.

A spokesperson for Bitwise confirmed the legitimacy of the filing. However, this is not the first time there have been rumors of an XRP ETF, with previous fake filings appearing online in an attempt to manipulate the token’s value.