#XRPETF

In October 2024, Bitwise Asset Management filed with the U.S. SEC to launch the first spot XRP ETF, aiming to offer investors direct exposure to XRP without holding the token themselves. The ETF's approval hinges on the SEC's stance regarding XRP's classification, especially amid ongoing legal disputes over whether XRP constitutes a security. Bitwise asserts that XRP is not a security and emphasizes its decentralized nature. The ETF would use the CME CF Ripple-Dollar Reference Rate for pricing, with BNY Mellon as administrator and Coinbase Custody as custodian.