Ripple's XRP barely budged after the Delaware filing was confirmed.
Crypto asset manager Bitwise is making moves toward creating an exchange-traded fund (ETF) that will track XRP (XRP), the token closely associated with crypto company Ripple.
On Tuesday, a trust entity was registered by the firm with the state of Delaware, which appeared on the state’s Division of Corporations website. Registering a trust entity is typically the first step toward filing to list and trade shares of an ETF; ahead of filing for ETFs that tracked bitcoin (BTC) and Ethereum's ether (ETH) following those tokens, companies like Bitwise, Blackrock and Fidelity all filed trust entities for the tokens.
A spokesperson for Bitwise confirmed that the filing was real.
“You are correct. We can now confirm that this is both legitimate and from Bitwise,” the spokesperson said.
This isn’t the first time that rumors about a potential XRP ETF have spread, however.
Previously, similar filings – which later turned out to be illegitimate – have been uploaded to the website in an attempt to pump the token's price.
For example, in November, a filing for an apparent BlackRock XRP ETF appeared on the website, which was later confirmed by the asset manager to be false.
Despite the news, XRP's price didn't fluctuate much Tuesday, though much of the broader market fell heavily over the past 24 hours.
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