Bitwise updates its XRP ETF filing for NYSE listing with a set 0.34% management fee.
- 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.
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