Bitwise Files Fourth XRP ETF Amendment for NYSE Listing

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What to Know:
  • Bitwise files fourth XRP ETF amendment for NYSE, specifies 0.34% fee.
  • XRP price surged 31% amid ETF optimism.
  • Potential NYSE listing may attract broad institutional participation.

Bitwise Asset Management has amended its XRP spot ETF application, confirming a listing on the NYSE with a management fee of 0.34%, as outlined in the SEC’s Form S-1/A.

This move could drive XRP’s market surge and foster institutional investment via a regulated US venue, pending SEC approval.

Bitwise Asset Management has amended its XRP spot ETF filing, confirming a New York Stock Exchange listing and a 0.34% management fee.

The filing highlights greater institutional access to XRP if approved, resulting in a 31% price surge.

Bitwise Submits Fourth XRP ETF Amendment with NYSE Focus

Bitwise Asset Management has filed Amendment No. 4 for its XRP spot ETF, appointing the NYSE as the planned listing venue. This amendment outlines a management fee of 0.34%, establishing transparency in costs for potential investors.

The filing, led by CEO Hunter Horsley and CIO Matt Hougan, is available on the SEC’s official website. Bitwise previously launched spot ETFs for major cryptocurrencies like Bitcoin and Ethereum, showing a strong precedent in this sector.

XRP Price Jumps 31% Following ETF Amendment News

The announcement came with a 31% surge in XRP’s price, reaching $2.51, reflecting market optimism about potential institutional influx. Exchanges like KuCoin opened new deposit channels for XRP, indicating increased trading activity.

The confirmation of an NYSE listing could facilitate higher levels of institutional investment, enabling more regulated trading of XRP. “The updated Form S-1/A for the Bitwise XRP ETF is filed directly with the SEC and accessible publicly,” as noted in the SEC Filing. This move aligns with broader industry trends seen with Bitcoin and Ethereum ETFs.

Historical Trends Suggest Positive Outcomes for XRP ETF

In the past, spot ETF approvals for Bitcoin and Ethereum have triggered significant market movements. Price appreciations and increased trading volumes followed as these assets were opened to institutional investors.

Should the XRP ETF gain approval within the expected 20-day period, similar outcomes are anticipated. Historical trends suggest a possible increase in XRP’s market value and liquidity, influenced by elevated institutional interest.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.
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Thane Morrison is a diligent crypto news author and keen blockchain and digital finance enthusiast. He writes insightfully correct engaging content on Bitcoin, altcoins, DeFi, and NFTs to help readers understand how this relentless, changing world works. Simplification and empowerment are what he really stands for and enables readers to keep their heads in the game when making vital decisions in such a demanding space.

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