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Bitwise Makes XRP ETF Plans Official With SEC Filing
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=RcUX2R5Eerc
The asset manager's S-1 comes a day after it registered a trust entity with the state of Delaware. • Bitwise submitted an S-1 filing to the U.S. Securities and Exchange Commission for an exchange-traded fund tied to the price of Ripple's XRP. • The filing comes after the asset manager on Tuesday registered a trust with the state of Delaware, the first hint of its intentions. • Bitwise took a big step toward launching an exchange-traded fund tied to XRP (XRP), the Ripple-associated token that's among the biggest cryptocurrencies in the world. • On Wednesday, the asset manager submitted an S-1 form to the U.S. Securities and Exchange Commission, a requirement for companies seeking to issue a new security and be listed on a public stock exchange. • Today we filed an S-1 for a Bitwise XRP ETP! Bitwise CEO Hunter Horsley wrote in a post on X. For more than a decade, XRP has been an enduring crypto asset that many investors want exposure to. • The move comes a day after Bitwise registered a trust entity titled XRP ETF with the state of Delaware; many companies list their legal entities in that state, and crypto ETF issuers have more than once tipped off their plans through Delaware filings. • XRP is the seventh-largest cryptocurrency by market capitalization at $33 billion, according to CoinDesk data. Its bigger rivals, bitcoin (BTC) and Ethereum's ether (ETH), have since earlier this year both been available to investors as an ETF, a wildly popular type of product in traditional finance. • While the submission of an S-1 filing is the first step in introducing a fund, the document is basically meaningless if it isn't followed by another filing, called the 19b-4, which is required to signal a requisite rule change at the stock exchange seeking to list the investment • Unlike the 19b-4, which ties the SEC's decision to approve or deny the filing to a strict timeline, the regulator has no such obligation to respond to the S-1, meaning that it could take years for Bitwise to receive approval. • VanEck, for example, filed an S-1 to launch an ether ETF in 2021, but the fund didn't hit the market until July 2024, over three years later. • Bitwise's effort to create a fund tracking XRP, however, is highly noteworthy, said one industry expert, Nate Geraci, president of the ETF Store, in response to Tuesday's filing. • Bitwise is a highly credible crypto-native fund firm that doesn't just throw stuff at the wall, he added. • https://www.coindesk.com/business/202... • #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #bitwise #bitwisenews #bitwisenewstoday #etfs #etfsnews #etfsnewstoday #xrp #xrpnews #litecoinleader ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! • This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. • bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
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