Bitwise to Launch XRP ETF Amid Community Confusion Over Ticker
- Bitwise Asset Management’s new spot ETF tracking XRP will launch on the New York Stock Exchange on Thursday under the ticker “XRP.”
- The choice of ticker has sparked confusion among users, as it directly matches the underlying asset, XRP.
- Bitwise previously launched a Physical XRP ETP in Europe in 2022, using the ticker GXRP.
- Canary Capital recently launched its own spot XRP ETF, XRPC, which saw over $250 million in inflows on its first trading day.
- Analysts predict additional XRP ETFs from Grayscale and Franklin Templeton may go live soon.
The upcoming launch of Bitwise’s XRP ETF highlights the growing interest in cryptocurrency investment vehicles amid regulatory changes. The ETF aims to provide a platform for investors to engage with XRP while raising questions about ticker symbol clarity within the market.
With the launch of the new ETF and over $250 million flowing into Canary Capital’s XRPC, the market is witnessing significant activity around XRP investment products. (Source)
