Big news: The Bitwise XRP ETF is set to begin trading on NYSE tomorrow with the ticker $XRP.
It has a management fee of 0.34%, which is waived for the first month on the first $500M in assets. This product brings investors spot exposure to XRP, the crypto asset that aims to modernize global payments.
Here’s why XRP is interesting:
- It's one of the longest-running blockchains, with a 13-year track record and super vibrant community of supporters
- It's the world’s 3rd-largest digital asset, with a $125B market cap*
- It’s going after a massive $250T cross-border payments opportunity
- It can settle payments in 3-5 seconds for fractions of a cent
- A growing list of assets are being tokenized on XRP Ledger, including U.S. Treasuries, digital commercial paper, private credit, and money market funds
Our mission at Bitwise is to provide access to the most exciting themes in crypto. We’re thrilled to launch $XRP and bring XRP’s potential real-world impact to investors through a professionally managed investment vehicle. Learn more at https://t.co/9ff3DCauU1.
Following the Commission's vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals.
The end…and now back to business.