Bitwise XRP ETF Filing in Delaware: All Details

Bitwise has filed for an XRP ETF in the state of Delaware. An anonymous spokesperson confirmed that the application is genuine.

The XRP ETF is one of several ETF-related ventures Bitwise has launched recently.

Amazing record

Bitwise Asset Management has filed for an entity called Bitwise XRP ETF in the state of Delaware. According to a filing publicly available on the Delaware Department of State's website, Bitwise registered this ETF on September 30, with the registered agent being CSC Delaware Trust Company, which provides compliance services for legal and corporate endeavors.

“Bitwise's position to file for the XRP ETF is very interesting IMO. Bitwise is a very credible crypto-native fund company that doesn't just throw things over the wall. That's simply not in their DNA. It's strategic,” said Nate Gerasi, president of ETF Storage.

Read more: XRP ETF explained: what it is and how it works

This agent's website states that Delaware is a preferred location for various corporate filings due to its reputation for business-friendly taxes and regulations. In fact, BlackRock filed an Ethereum ETF in Delaware a year ago. This environment suggests that Bitwise is making a real effort to win regulatory approval, even if it is difficult.

An unnamed spokesperson from Bitwise has already confirmed that the offer is true. It will be difficult to predict how the SEC will react at this point, but it is certainly an impressive development.

The XRP ETF has its supporters, but overall, it is unlikely to become a third US ETF as a cryptocurrency.

Read more: How to buy XRP and everything you need to know

Still, this bold move is very characteristic of Bitwise. Chief Investment Officer Matt Hugan made public bullish statements on new ETF approvals two weeks ago, and Bitwise acquired a European crypto ETP issuer in August.

A new project like this fits perfectly. Ripple executives, too, are adamant that the SEC will eventually give the green light to the XRP ETF.

“I think it's just a matter of time, and there's going to be an XRP ETF, there's going to be a Solana ETF, there's going to be a Cardano ETF, and that's great,” Ripple CEO Brad Garlinghouse said.