Overview
- Bitwise confirmed its XRP ETF will begin trading Nov. 20 on the New York Stock Exchange with the ticker XRP.
- The fund will hold spot XRP and charges a 0.34% management fee, waived for the first month on the first $500 million in assets.
- Bitwise’s materials note the fund is not registered under the Investment Company Act of 1940 and that investing in it differs from directly owning XRP, with risks including significant volatility and potential illiquidity.
- Industry coverage reports Coinbase will serve as the ETF’s custodian and that the listing appears on NYSE Arca, though Bitwise’s release did not state the custodian.
- Grayscale and Franklin Templeton are preparing spot XRP ETFs targeting launches around Nov. 24, according to filings and analyst reports.