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<a href="https://www.blockhead.co/tag/bitwise/" rel="noopener noreferrer nofollow">Bitwise</a>&nbsp;has filed an application with the U.S. Securities and Exchange Commission (<a href="https://www.blockhead.co/tag/sec/" rel="noopener noreferrer nofollow">SEC</a>) to create an exchange-traded fund (ETF) based on its 10 Crypto Index Fund.
<a href="https://www.blockhead.co/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, <a href="https://www.blockhead.co/tag/ethereum" rel="noopener noreferrer nofollow">Ethereum</a>, <a href="https://www.blockhead.co/tag/solana" rel="noopener noreferrer nofollow">Solana</a>, <a href="https://www.blockhead.co/tag/xrp" rel="noopener noreferrer nofollow">XRP</a>, <a href="https://www.blockhead.co/tag/cardano" rel="noopener noreferrer nofollow">Cardano</a>, <a href="https://www.blockhead.co/tag/avalanche" rel="noopener noreferrer nofollow">Avalanche</a>, <a href="https://www.blockhead.co/tag/chainlink" rel="noopener noreferrer nofollow">Chainlink</a>, Bitcoin Cash, <a href="https://www.blockhead.co/tag/polkadot" rel="noopener noreferrer nofollow">Polkadot</a>, and <a href="https://www.blockhead.co/tag/uniswap" rel="noopener noreferrer nofollow">Uniswap</a> are all represented in the fund, making it the most diversified and extensive crypto ETF in the US.
<img src="https://beincrypto.com/wp-content/uploads/2024/11/image-208.png">All Assets Under the BitWise Crypto Index ETF. Source: <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-101775.pdf?ref=blockhead.co" rel="noopener noreferrer nofollow">SEC</a>
The index's value is tied to the performance of the ten largest cryptocurrencies by market capitalization and has been maintained by Bitwise since 2018.
Meanwhile, Ripple has backed Bitwise's Physical XRP ETP (GXRP), previously called the European XRP ETP, which provides European investors with direct exposure to XRP.
"With the U.S. regulatory environment for crypto finally becoming more clear, this trend is poised to accelerate, further driving demand for crypto ETPs, such as the Bitwise Physical&nbsp;<a href="https://decrypt.co/price/xrp?ref=blockhead.co" rel="noopener noreferrer nofollow">XRP</a>&nbsp;ETP," Ripple CEO Brad Garlinghouse said&nbsp;in a&nbsp;<a href="https://www.globenewswire.com/news-release/2024/11/27/2987978/0/en/Bitwise-Rebrands-XRP-ETP-Ripple-To-Invest-in-Product.html?ref=blockhead.co" rel="noopener noreferrer nofollow">press release</a>.
"As one of the most valuable, liquid, and utility-driven digital assets, XRP is at the forefront of this momentum, standing out as a cornerstone for those seeking access to assets that are resilient and have real-world utility."
Originally launched in 2022, the ETP operates under a BaFin-approved prospectus, Germany’s financial regulatory framework.
Bitwise also recently joined the&nbsp;<a href="https://www.blockhead.co/tag/solana/" rel="noopener noreferrer nofollow">Solana ETF</a>&nbsp;race by submitting its regulatory filings for the product, following in the footsteps of&nbsp;<a href="https://www.blockhead.co/tag/vaneck" rel="noopener noreferrer nofollow">VanEck</a>&nbsp;and 21Shares, which filed theirs in June.
Cboe BZX Exchange has now submitted four 19b-4 filings, which are formal submissions that propose rule changes to the SEC by self-regulatory organizations such as stock exchanges.
The company has already made a mark in the ETF space with its Bitcoin ETF (BITB), as one of the first ten applicants to seek SEC approval for a cryptocurrency-based ETF.
Earlier this week,&nbsp;<a href="https://www.blockhead.co/tag/wisdomtree/" rel="noopener noreferrer nofollow">WisdomTree</a>&nbsp;registered an&nbsp;<a href="https://www.blockhead.co/tag/xrp/" rel="noopener noreferrer nofollow">XRP ETF</a>&nbsp;in Delaware, reflecting the increasing appetite for digital asset investment vehicles. The move suggests the company is preparing to file an S-1 registration with the US Securities and Exchange Commission (<a href="https://www.blockhead.co/tag/sec/" rel="noopener noreferrer nofollow">SEC</a>) to launch an XRP-focused ETF.
WisdomTree follows the likes of Bitwise and Canary Capital, which have also sought SEC approval for spot XRP ETFs.
Additionally, <a href="https://www.blockhead.co/tag/21shares/" rel="noopener noreferrer nofollow">21Shares</a>&nbsp;has announced the launch of new exchange-traded products (ETPs) for four digital asset tokens.
Oracle provider Pyth, decentralized graphics processing protocol Render, RWA platform&nbsp;<a href="https://www.blockhead.co/tag/ondo-finance/" rel="noopener noreferrer nofollow">Ondo Finance</a>, and layer-1 blockchain&nbsp;<a href="https://www.blockhead.co/tag/near/" rel="noopener noreferrer nofollow">Near Protocol</a>&nbsp;will each have their own ETPs through 21Shares known as:
<ul>
 <li>21Shares NEAR Protocol Staking ETP</li>
 <li>21Shares Ondon ETP</li>
 <li>21Shares Pyth Network ETP</li>
 <li>21Shares Render ETP</li>
</ul>
<a href="https://www.blockhead.co/2024/11/28/bitwise-files-for-10-crypto-index-etfs-gets-investment-from-ripple-for-xrp-etf-2/#/portal/signup/free" rel="noopener noreferrer nofollow">Join Blockhead today for FREE and stay in the loop on digital assets!</a>

Bitwise Files For 10 Crypto Index ETFs, Gets Investment From Ripple for XRP ETF

Bitwise Files For 10 Crypto Index ETFs, Gets Investment From Ripple for XRP ETF

Blockhead

Other articles published on Nov 28, 2024

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