Why bitwise is linked with XRP

Bitwise is linked with XRP due to their involvement in the crypto ecosystem and the regulatory environment surrounding altcoins like XRP: 1. **ETF Involvement**: Bitwise's 10 Crypto Index Fund, which includes XRP alongside Bitcoin, Ethereum, and other major digital currencies, was initially approved by the SEC. However, the SEC later halted the conversion of this fund into an ETF, which has had a significant impact on XRP's price and market sentiment [1]. 2. **Market Reaction**: The SEC's decision to halt Bitwise's ETF has created regulatory uncertainty for XRP and other altcoins, leading to a drop in XRP's price. This is because investors are now uncertain about the future of crypto ETFs and the regulatory environment for altcoins [1]. 3. **Industry Positioning**: Bitwise, as a prominent player in the crypto asset management space, has positioned itself to capitalize on the growing tokenization wave, including exposure to XRP through its 10 Crypto Index Fund. However, the SEC's actions have put this initiative on hold, highlighting the challenges and uncertainties in the regulatory landscape for crypto products [4]. In summary, Bitwise is linked with XRP through their shared involvement in the crypto ecosystem, with Bitwise's ETF application and XRP's status as an included asset both facing regulatory scrutiny from the SEC.