coinspress.com
A new filing for a Bitwise XRP exchange-traded fund (ETF) has surfaced on the Delaware Division of Corporations.
This filing, dated September 30, 2024, identifies CSC Delaware Trust Company in Wilmington as the registered agent.
However, this Delaware filing does not guarantee an immediate application for registration with the Securities and Exchange Commission (SEC). It may simply be an initial step in preparation, with an official SEC filing potentially months away.
This development follows comments from Ripple CEO Brad Garlinghouse, who suggested that an XRP ETF is “inevitable”. If approved, an XRP ETF could provide institutional investors with a regulated means to invest in cryptocurrency, which may enhance liquidity and promote broader adoption of the token.
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There has been buzz about an XRP ETF launch recently; in November 2023, XRP’s price jumped by 12% due to false reports of a “BlackRock iShares XRP Trust” filing in Delaware, which ignited speculation about an XRP ETF. BlackRock subsequently denied the application, and Delaware authorities are investigating the misleading filing.