u.today  + 14 more 01 October 2024 20:31, UTC

Bitwise, the leading crypto index fund manager, has filed for an XRP exchange-traded fund in the state of Delaware, according to Fox Business reporter Eleanor Terrett.

For now, there is no official confirmation from Bitwise regarding the company’s intention to introduce an XRP ETF. “More details to come. Stay tuned,” the Fox Business reporter added in a social media post.

Some have taken the recent filing with a grain of salt. Last November, scammers published a fake filing for a BackRock XRP ETF on the website for Delaware’s Division of Corporations. The move was meant to fraudulently push the XRP price higher. The incident was later referred to the Delaware Department of Justice.

However, the idea of Bitwise proposing an XRP ETF does not seem to be that far-fetched. As reported by U.Today, Ripple CEO Brad Garlinghouse previously stated that the launch of such a product was “inevitable.”

While financial titans like BlackRock will not touch XRP with a ten-foot pole, some crypto-native firms might explore more exotic ETFs.

Last month, Grayscale, the leading asset manager, relaunched its XRP trust. Some analysts believe that this could set the stage for the introduction of an XRP ETF.