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A filing for a Bitwise XRP exchange-traded fund (ETF) has surfaced on the website of the State of Delaware’s Division of Corporations
Dated September 30, 2024, the document reveals that the Bitwise XRP ETF was established on that date. CSC Delaware Trust Company, located in Wilmington, was named as the registered agent for the filing.
This submission in Delaware doesn’t automatically suggest an imminent registration with the Securities and Exchange Commission (SEC). It could simply be an initial step, and any formal SEC filing may still be months away.
The news of this filing comes after Ripple’s CEO, Brad Garlinghouse, mentioned earlier in the year that an XRP ETF was “inevitable” following the rollout of Bitcoin and Ethereum ETFs in the U.S.
Should the XRP ETF gain approval, it would provide institutional investors with a regulated avenue for gaining exposure to XRP, which could enhance both liquidity and adoption of the token.
Speculation around an XRP ETF has been growing recently. Back in November 2023, XRP’s price spiked by 12% after false rumors circulated about a “BlackRock iShares XRP Trust” filing in Delaware. However, BlackRock later denied any connection, and authorities in Delaware are now investigating the fraudulent filing.