{"id":17443,"date":"2024-10-02T10:02:00","date_gmt":"2024-10-02T07:02:00","guid":{"rendered":"https:\/\/forklog.com\/en\/bitwise-files-for-spot-xrp-etf-registration\/"},"modified":"2024-10-02T10:02:00","modified_gmt":"2024-10-02T07:02:00","slug":"bitwise-files-for-spot-xrp-etf-registration","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-files-for-spot-xrp-etf-registration\/","title":{"rendered":"Bitwise Files for Spot XRP ETF Registration"},"content":{"rendered":"<p>Digital asset manager Bitwise has submitted an application to launch a spot exchange-traded fund based on XRP.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?SCOOP: Crypto asset manager <a href=\"https:\/\/twitter.com\/BitwiseInvest?ref_src=twsrc%5Etfw\">@BitwiseInvest<\/a> has filed in the state of Delaware for an <a href=\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XRP<\/a> ETF.<\/p>\n<p>More details to come. Stay tuned. ? <a href=\"https:\/\/t.co\/2q7zDj7aYm\">pic.twitter.com\/2q7zDj7aYm<\/a><\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1841199699761475827?ref_src=twsrc%5Etfw\">October 1, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm promised to provide further details later.<\/p>\n<p>The announcement did not lead to a significant reaction in XRP&#8217;s price. Over the past day, the asset has decreased by 3.3%, amid a decline in competitors within the top 10 by market capitalization, ranging from 3.4% to 8.2%.<\/p>\n<p>Since December 2020, a legal battle has been ongoing between the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and Ripple regarding the status of XRP.<\/p>\n<p>In July 2023, the fintech firm achieved a partial victory. The court ruled that programmatic sales and other distributions of the token do not constitute an offer and sale of investment contracts.<\/p>\n<p>At that time, the SEC attempted to challenge the decision, but the court dismissed the Commission&#8217;s interlocutory appeal. The agency still has the opportunity to make another attempt. The company&#8217;s chief legal officer, Stuart Alderoty, <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-unfazed-by-potential-sec-appeal-on-xrp-status\">expressed confidence<\/a> that this would not change XRP&#8217;s status.<\/p>\n<p>On August 7, 2024, Judge Analisa Torres fined Ripple <a href=\"https:\/\/u1f987.com\/en\/news\/court-reduces-ripples-fine-from-2-billion-to-125-million\">$125 million<\/a> in the case with the SEC. Initially, the agency <a href=\"https:\/\/u1f987.com\/en\/news\/sec-seeks-2-billion-penalty-for-ripple-labs\">sought $2 billion<\/a>.<\/p>\n<p>In September, digital asset manager Grayscale Investments announced the launch of a closed-end fund based on XRP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Bitwise has submitted an application to launch a spot exchange-traded fund based on XRP. ?SCOOP: Crypto asset manager @BitwiseInvest has filed in the state of Delaware for an $XRP ETF. More details to come. Stay tuned. ? pic.twitter.com\/2q7zDj7aYm \u2014 Eleanor Terrett (@EleanorTerrett) October 1, 2024 The firm promised to provide further details [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,569,36,112,128],"class_list":["post-17443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-etf","tag-regulation","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17443"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17442"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}