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Bitwise will launch its spot XRP ETF on Thursday under ticker XRP
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Management fee is 0.34 percent, waived for the first month on 500 million dollars
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XRP becomes the latest altcoin to gain a U.S. spot ETF
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SEC guidance has triggered a surge in new altcoin ETF filings
A Major New Product in the Expanding Altcoin ETF Market
Bitwise Asset Management is launching a spot XRP ETF on the New York Stock Exchange, becoming the second issuer in the U.S. to offer direct XRP exposure. Trading begins Thursday under the ticker XRP. The fund charges a 0.34 percent management fee, which Bitwise will waive for the first 500 million dollars in assets during its first month.
Bitwise CIO Matt Hougan called XRP an asset with strong fundamentals, highlighting its long operating history, high transaction volume, and active global community.
Growing Institutional Demand for XRP Exposure
XRP is the third largest non stablecoin cryptocurrency, with a market cap of more than 127 billion dollars. It has processed over 4 billion transactions, with its core use case tied to cross border payments.
Bitwise’s launch comes shortly after Canary Capital introduced the first U.S. spot XRP product last week, which has already gathered nearly 277 million dollars in net inflows. Grayscale is also preparing to launch a spot XRP ETP alongside a Dogecoin ETF next Monday.
Regulatory Guidance Opens the Door for More ETFs
The U.S. market has seen a rapid expansion of altcoin ETFs due to new SEC guidance that clarifies the path for launching crypto exchange traded products. Issuers can now follow a more predictable route without needing individual approvals each time.
More Altcoin ETFs Coming
Beyond XRP, issuers are working on ETFs for Cardano, Avalanche, Polkadot, and other assets. Solana remains the strongest performer, with six active spot ETFs and more than 420 million dollars in net inflows since late October.
