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XRP ETF Bid: A New Gateway for Institutional Investors

Coin WorldThursday, Feb 6, 2025 5:45 pm ET

1min read

Bitwise, Canary, and 21Shares have filed an application with the CBOE to launch an XRP exchange-traded fund (ETF). This news comes as the price of XRP stands at $2.33.

The application, submitted to the CBOE BZX Exchange, seeks to list the Bitwise Crypto Industry Innovators ETF, which will track the performance of a basket of cryptocurrencies, including XRP. The ETF aims to provide investors with exposure to the growing cryptocurrency market while offering the liquidity and regulatory protections of a traditional ETF.

The filing is a significant development for the XRP community, as it represents a potential pathway for institutional investors to gain exposure to the cryptocurrency. XRP is the native token of the Ripple network, which facilitates fast and low-cost cross-border payments. The token has gained popularity among financial institutions and payment providers due to its speed and scalability.

The application is subject to review and approval by the CBOE. If approved, the ETF would be the first of its kind to include XRP as a component. The launch of the ETF could potentially attract more institutional investors to the cryptocurrency market, driving further growth and adoption of XRP.

The price of XRP has been volatile in recent months, reflecting the broader market trends in the cryptocurrency sector. However, the filing of the ETF application has been seen as a positive development by some investors, who believe it could lead to increased demand for XRP and drive its price higher.

As the cryptocurrency market continues to evolve, the launch of new ETFs and investment products could play a crucial role in attracting more institutional investors and driving further growth in the sector. The Bitwise, Canary, and 21Shares application is a significant step in this direction, and the outcome of the CBOE's review will be closely watched by the XRP community and the broader cryptocurrency market.

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