Bitwise Becomes First to File for XRP ETF, Signaling Growing Mainstream Adoption of Digital Assets

Bitwise Asset Management Inc. has made a significant move. They just became the first company to file for an ETF that directly invests in XRP. This comes after their previous filings for Bitcoin (BTC) and Ethereum (ETH) ETFs.

Why is this important? Well, it follows a period of increasing regulatory clarity around Ripple Labs, the company behind XRP. This clarity is crucial for investors.

On Wednesday, Bitwise submitted their paperwork to the Securities and Exchange Commission (SEC) to launch the Bitwise XRP ETF. As of now, they haven’t provided a ticker symbol or specific fee details.

This filing shows that Wall Street's ETF innovators are eager to broaden access to cryptocurrency investments. They want to make it easier for everyday people to get involved in the crypto market.

Overall, this move reflects the changing landscape of cryptocurrency regulation. It highlights the potential for mainstream adoption of digital assets. Bitwise is positioning itself at the forefront of this exciting development.