XRP News Today: Regulatory Easing Paves Way for First XRP ETF on NYSE

The Bitwise XRP ETF, the first U.S.-listed fund to directly track the third-largest cryptocurrency by market capitalization, is set to debut on the New York Stock Exchange on November 20, 2025, marking a pivotal moment in the evolving regulatory landscape for crypto assets. The fund, which will trade under the ticker symbol XRP, has a 0.34% management fee with a waived charge for the first month on the first $500 million in assets. This launch follows months of regulatory scrutiny and underscores growing institutional confidence in blockchain-based assets as the U.S. Securities and Exchange Commission (SEC) appears to adopt a more measured approach to enforcement actions against crypto firms according to reports.

The Bitwise XRP ETF will hold spot XRP tokens, which power the XRP Ledger-a blockchain designed to facilitate rapid, low-cost cross-border payments. With a market capitalization exceeding $120 billion and a 13-year operational history, XRP has processed over four billion transactions and averages $1.9 billion in daily volume according to data. Bitwise CIO Matt Hougan highlighted the asset's potential, noting its "low cost, high transaction volumes, and strong community," which align with the "crypto-forward regulatory regime" emerging under SEC Chair Gary Gensler's successor according to industry analysis.

The ETF's approval comes amid a broader shift in the SEC's enforcement strategy. In fiscal year 2025, enforcement actions against public companies and subsidiaries dropped by 30%, the largest decline since the agency began tracking such data. This trend includes the dismissal of the SEC's case against Coinbase in February 2025, signaling a potential recalibration of priorities toward issuer reporting and disclosure issues rather than aggressive litigation according to regulatory filings. For crypto firms, this regulatory easing has created a more hospitable environment for product innovation, with Bitwise's XRP ETF joining a growing list of digital asset funds seeking to capitalize on the $250 trillion cross-border payments market according to market analysis.

Meanwhile, the crypto ETF landscape remains competitive. Grayscale Investments, which recently filed for an IPO amid declining revenue and legal uncertainties tied to its parent company Digital Currency Group, faces challenges as it seeks to raise $100 million according to financial reports. The firm's Bitcoin Trust (GBTC) has seen outflows since its conversion to an ETF in January 2024, with assets falling from $28.7 billion to $16 billion. In response, Grayscale launched a lower-fee Bitcoin Mini Trust (BTC) in July 2025, which now holds $4.3 billion in assets according to market data. These developments highlight the pressures facing crypto-focused asset managers as they navigate shifting investor preferences and regulatory expectations.

For Bitwise, the XRP ETF represents a strategic expansion into a market where XRP's efficiency in cross-border transactions could disrupt traditional financial infrastructure. The fund's launch also reflects investor demand for exposure to assets with established use cases, particularly as the SEC's enforcement focus appears to shift toward core regulatory functions such as transparency and disclosure according to regulatory filings.