{"id":38822,"date":"2024-10-02T16:48:58","date_gmt":"2024-10-02T16:48:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitwise-files-form-s-1-for-xrp-etf-with-sec\/"},"modified":"2024-10-02T16:48:58","modified_gmt":"2024-10-02T16:48:58","slug":"bitwise-files-form-s-1-for-xrp-etf-with-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitwise-files-form-s-1-for-xrp-etf-with-sec\/","title":{"rendered":"Bitwise files Form S-1 for XRP ETF with SEC"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-XRP-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-XRP-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-XRP-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-XRP-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>The first XRP ETF filing is now with the US Securities and Exchange Commission<\/li>\n<li>Bitwise submitted a Form S-1 filing for approval to launch an XRP ETF on October 2, 2024.<\/li>\n<\/ul>\n<p>Bitwise has filed an initial registration statement for the launch of the first spot XRP exchange-traded fund.<\/p>\n<p>On Wednesday, Oct. 2, the crypto asset manager <a href=\"https:\/\/www.businesswire.com\/news\/home\/20241002270095\/en\/Bitwise-Files-Form-S-1-for-Bitwise-XRP-ETP\" target=\"_blank\" rel=\"noopener\">announced<\/a> it had submitted a Form S-1 with the US Securities and Exchange Commission for the Bitwise XRP ETF.<\/p>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/xrp\/\">XRP<\/a> is the cryptocurrency by <a href=\"https:\/\/coinjournal.net\/news\/tag\/ripple\/\">Ripple<\/a>. Currently, it\u2019s the seveth-largest crypto asset by market cap with over $32 billion.<\/p>\n<h2>First XRP ETF<\/h2>\n<p>Bitwise, one of the ETF issuers already offering a spot Bitcoin ETF and Ethereum spot ETF, is the first company to officially apply for approval to issue an exchange-traded fund tracking the daily price of XRP.<\/p>\n<p>Brad Garlinghouse, CEO of Ripple, commented on the development via X:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">First BTC, then ETH\u2026it was only a matter of time.<\/p>\n<p>This move underscores the growing trust &amp; integration of digital assets like XRP into traditional finance, marking the continued adoption and maturation of the crypto market. I sense this is just the beginning. <a href=\"https:\/\/t.co\/s1pHpIEqth\">https:\/\/t.co\/s1pHpIEqth<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1841471234204225970?ref_src=twsrc%5Etfw\">October 2, 2024<\/a><\/p>\n<\/blockquote>\n<p>The announcement that Bitwise seeks SEC\u2019s approval for an XRP ETF followed the filing for an XRP ETF Trust in Delaware on Tuesday, October 2, 2024.<\/p>\n<p>With this official Form S-1 filing, the Bitwise XRP ETP will now await SEC\u2019s approval, including for the Form 19b-4.<\/p>\n<p>Commenting on the filing, Bitwise chief executive officer Hunter Horsley said:<\/p>\n<blockquote>\n<p>\u201cAt Bitwise, we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century\u2026 It\u2019s why for the past seven years we\u2019ve helped investors access the opportunities in the space, and we\u2019re excited to continue that work with our filing for a Bitwise XRP ETP.\u201d<\/p>\n<\/blockquote>\n<h2>Will SEC appeal XRP ruling?<\/h2>\n<p>Bitwise\u2019s S-1 filing comes just days before a deadline for the SEC to appeal the 2023 court ruling on the status of XRP. This deadline is on October 7 and relates to the SEC\u2019s lawsuit against Ripple and its executive over the sale of XRP, which the regulator said was a security until a US judge ruled it was not in July last year.<\/p>\n<p>If SEC appeals the ruling over XRP sales, then it would be interesting to see how the regulator handles the application for the XRP ETF.<\/p>\n<p>Ripple has battled the SEC in a legal tussle that began in December 2020. In August 2024, Judge Analisa Torres ordered Ripple Labs to pay a $125 million civil penalty in settlement with the securities agency.<\/p>\n<p>XRP price rose sharply following this news. However, the coin has pared most of the gains and traded around $0.58 at the time of writing.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitwise-files-form-s-1-for-xrp-etf-with-sec\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The first XRP ETF filing is now with the US Securities and Exchange Commission Bitwise submitted a Form S-1 filing for approval to launch an XRP ETF on October 2, 2024. Bitwise has filed an initial registration statement for the launch [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":38823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/38822"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=38822"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/38822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/38823"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=38822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=38822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=38822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}