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Bitwise to Launch Spot XRP ETF Amid Rising Altcoin Fund Offerings

Bitwise to Launch Spot XRP ETF Amid Rising Altcoin Fund Offerings

Bitwise’s spot XRP ETF debuted on the NYSE with strong first-day trading activity, reflecting surging demand for regulated access to altcoins in U.S. markets.

XRP

Fact Check
The assessment is based on an overwhelming consensus across high-authority primary and secondary sources. Multiple sources are presented as direct, official press releases from Bitwise Asset Management and its distribution partner, PR Newswire. These primary sources explicitly announce the launch of a spot XRP ETF, providing the strongest possible evidence that the company plans to do so. This direct evidence is strongly corroborated by numerous reputable secondary sources. These include reports on specific, final-stage regulatory filings (Form 8-A) and direct attributions of the launch announcement to a C-level executive (the Bitwise CIO). The evidence is consistent, specific, and comes from credible outlets. The few lower-authority sources that use speculative language are significantly outweighed and do not offer any contradictory information. The sheer volume and quality of the affirmative evidence make the statement highly credible.
Summary

On November 20, Bitwise Asset Management’s spot XRP ETF began trading on the New York Stock Exchange, offering U.S. investors regulated exposure to XRP without direct ownership. The ETF recorded $105 million in net inflows on its debut, with $26.41 million in trading volume and a net asset value (NAV) of $108 million. Collectively, XRP spot ETFs now hold $385 million in NAV and cumulative net inflows of $411 million. The fund charges a 0.34% management fee, waived until assets reach $500 million. This marks Bitwise’s 49th crypto investment product in the U.S. and Europe, expanding regulated altcoin offerings beyond Bitcoin-focused products.

Terms & Concepts
  • Spot XRP ETF: An exchange-traded fund directly backed by XRP holdings, allowing investors exposure without owning the cryptocurrency outright.
  • Altcoin: Any cryptocurrency other than Bitcoin, such as Ethereum, XRP, or Litecoin.
  • Exchange-Traded Fund (ETF): A regulated investment fund traded on stock exchanges, holding assets such as stocks, bonds, or cryptocurrencies.