Cryptocurrency

2024

On October 2, 2024, Hunter Horsley, the CEO of Bitwise, <a href="https://x.com/HHorsley/status/1841475159326396708" rel="noopener noreferrer nofollow">announced</a> via Twitter that the company had filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a new Exchange-Traded Product (ETP) tied to XRP.
This move marks another significant development in the cryptocurrency industry, highlighting XRP’s increasing relevance as a digital asset within traditional finance. Horsley expressed excitement about the filing and emphasized Bitwise’s ongoing commitment to creating investment vehicles for emerging opportunities in the crypto space.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Today we filed an S-1 for a Bitwise XRP ETP!
 For more than a decade, XRP has been an enduring crypto asset that many investors want exposure to.
 Over the past 6+ years we’ve worked to pioneer investment vehicles that provide access to the emerging opportunities in the space.…
 — Hunter Horsley (@HHorsley) <a href="https://twitter.com/HHorsley/status/1841475159326396708?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The announcement has generated considerable interest, especially given the long-standing debate surrounding the regulation of cryptocurrencies. XRP, which has been at the center of <a href="https://timestabloid.com/ripple-vs-sec-case-as-of-october-2-2024-deadline-looms-for-sec/" rel="noopener noreferrer nofollow">legal battles with the SEC</a> over its classification as a security, has continued to attract attention from investors and financial institutions.
By filing for an XRP ETP, Bitwise is making a bold statement about the future of digital assets and their growing acceptance within regulated markets.
<h2 id="b-the-significance-of-the-xrp-etp-b">The Significance of the XRP ETP</h2>
Exchange-traded products (ETPs) allow investors to gain exposure to assets without directly owning them. In the case of the Bitwise XRP ETP, investors would be able to invest in XRP without needing to purchase and store the cryptocurrency themselves.
This model particularly appeals to traditional investors who may hesitate to engage directly with digital assets due to security concerns, custody, and regulatory clarity.
For over a decade, XRP has stood as one of the most prominent cryptocurrencies, designed to facilitate fast and <a href="https://timestabloid.com/ripple-wins-new-cross-border-payment-partnership-in-europe/" rel="noopener noreferrer nofollow">cost-effective cross-border payments</a>. Its utility within the financial ecosystem has made it a key player in the ongoing transformation of global finance.
As more institutional investors seek exposure to digital assets, XRP’s ability to bridge the gap between traditional finance and the emerging cryptocurrency sector makes it attractive.
Horsley highlighted Bitwise’s role in pioneering investment products that provide access to such emerging opportunities. With over six years of experience in developing investment vehicles within the digital asset space, Bitwise has established itself as a leader in offering regulated, secure, and accessible crypto investment solutions.
This latest filing aligns with the company’s broader mission of expanding access to digital assets for a wide range of investors.
<h2 id="b-ripple-ceo-reacts-b">Ripple CEO Reacts</h2>
Ripple’s CEO, Brad Garlinghouse, <a href="https://x.com/bgarlinghouse/status/1841471234204225970" rel="noopener noreferrer nofollow">responded</a> positively to Bitwise’s filing, stating that the application is just the beginning of greater integration of digital assets into traditional financial systems. He noted that the growing interest in XRP from financial institutions reflects a broader trend of trust and adoption.
The XRP ETP filing underscores this trend, suggesting that cryptocurrencies like XRP are increasingly viewed as viable investment options, not only by individual investors but also by institutions.
Garlinghouse’s optimism is shared by many in the cryptocurrency industry, particularly after the launch of <a href="https://timestabloid.com/ripple-ceo-reacts-to-grayscale-relisting-xrp-states-bullish-expectation/" rel="noopener noreferrer nofollow">Grayscale’s XRP Trust</a> in September 2024. The Grayscale XRP Trust was seen as a pivotal moment in legitimizing the token as an institutional-grade investment asset.
The introduction of this trust paved the way for further developments, including Bitwise’s ETP filing. Analysts and industry insiders believe that the SEC will approve an XRP ETP before it greenlights other proposed cryptocurrency ETFs, such as those tied to Solana.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="b-broader-implications-for-the-cryptocurrency-industry-b">Broader Implications for the Cryptocurrency Industry</h2>
The filing of Bitwise’s S-1 registration for an XRP ETP represents a broader trend toward the integration of cryptocurrencies into traditional investment products. As regulatory frameworks evolve, and institutional interest grows, digital assets become more accessible to mainstream investors.
This shift could have significant implications for the cryptocurrency market, potentially driving greater liquidity, stability, and adoption of digital assets. Should the SEC approve Bitwise’s filing, it would likely encourage other financial firms to pursue similar offerings, further integrating digital assets into the traditional financial ecosystem.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/bitwise-ceo-makes-special-announcement-about-xrp/" rel="noopener noreferrer nofollow">Bitwise CEO Makes Special Announcement about XRP</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

Bitwise CEO Makes Special Announcement about XRP

Table of Contents

Times Tabloid

Other articles published on Oct 2, 2024

Analysts Warn of Potential Price Correction Amid Bitcoin OI Surge

Are Ethereum Whales Driving the Recent 6% Drop in ETH?

Cheap cryptocurrencies set to surpass Solana for gains this bull run

Winich Farms raises $3m pre-series A to help smallholder farmers to produce and distribute profit...

Pelaku Kriminal Lebih Suka Uang Tunai daripada Kripto

Binance Secures Regulatory Approval in Argentina, Offering Full Crypto Services to Local Users

Join our free newsletter for daily crypto updates!