Bitwise Files for XRP Exchange-Traded Fund (ETF) in the State of Delaware

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.

A filing for a Bitwise XRP exchange-traded fund (ETF) has been spotted on the website of the State of Delaware’s Division of Corporations.

The document, dated September 30, 2024, reveals that the Bitwise XRP ETF was established on that date. The registered agent for the filing is CSC Delaware Trust Company, located in Wilmington.

This submission in Delaware doesn’t necessarily indicate an imminent registration with the Securities and Exchange Commission (SEC). It could be an initial step, with any formal SEC filing still 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.

If approved, the XRP ETF would provide institutional investors with a regulated way to gain exposure to XRP, which could increase both liquidity and adoption of the token.

There has been growing speculation about an XRP ETF. In November 2023, XRP’s price rose by 12% after rumors surfaced about a “BlackRock iShares XRP Trust” filing in Delaware. However, BlackRock denied any involvement, and authorities in Delaware are now investigating the fraudulent filing.