There’s a bright spot for the XRP army amid the broader market pull back. San Francisco-based crypto asset manager Bitwise has submitted its bid to offer an XRP spot ETF to U.S. investors. If it gets the nod from the Securities and Exchange Commission, the new fund will join the firm’s Bitcoin and Ethereum ETFs in Bitwise’s lineup.
Bitwise CEO Hunter Horsley said in a press release the firm is “excited to continue that work with our filing for a Bitwise XRP ETP.”
The XRP price did spike to $0.62 late yesterday, after Bitwise confirmed its registration for the fund name in Delaware was legit. But the token hasn’t sustained the gains. It’s currently trading for $0.58, down 5.4% compared to this time yesterday.
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