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Bitwise Intensifies Efforts with New XRP ETF Filing Amid Regulatory Landscape
Asset manager Bitwise updated its S-1 registration statement on October 16, aiming to launch a compliant XRP exchange-traded fund (ETF). The new details in the filing focus on the Trust’s structure, asset custody, and share creation and redemption processes. This move follows the initial October 2 registration, marking a significant step toward offering an investment product tied to Ripple’s XRP.
The post "Bitwise Intensifies Efforts with New XRP ETF Filing Amid Regulatory Landscape" first appeared on 36crypto.com News.
#bitwise #XRP_ETF #Ripple💰 #MemeCoinTrending
The post "Bitwise Intensifies Efforts with New XRP ETF Filing Amid Regulatory Landscape" first appeared on 36crypto.com News.
#bitwise #XRP_ETF #Ripple💰 #MemeCoinTrending
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'Bitwise': preparing for a 'larger wave of investors' in the coming period
Bitwise CIO Matt Hogan's comments come as financial institutions, such as Merrill Lynch and Wells Fargo, begin allowing their clients to access Bitcoin trading funds.
Bitcoin exchange-traded funds (ETFs) could see a "bigger wave" of institutional capital once "major companies" allow access to bitcoin trades via new ETFs, according to Bitwise.
“I think there's a bigger wave coming in a few months, which is when the big companies start operating,” Matt Hogan, CIO of Bitwise, said in an interview with CNBC on February 29, adding that the first wave “Most of the momentum surrounding Bitcoin ETFs has come primarily from retail, hedge funds and independent financial advisors so the next wave will be driven by institutional capital,” said Hogan, who referred to ETFs as Bitcoin’s “IPO moment.”
Interestingly, two of the world's largest financial institutions, Bank of America's Merrill Lynch and Wells Fargo, have begun offering Bitcoin ETF services to their clients.
#BTC
#bitwise
#TrendingTopic
#Write2Earn
'Bitwise': preparing for a 'larger wave of investors' in the coming period
Bitwise CIO Matt Hogan's comments come as financial institutions, such as Merrill Lynch and Wells Fargo, begin allowing their clients to access Bitcoin trading funds.
Bitcoin exchange-traded funds (ETFs) could see a "bigger wave" of institutional capital once "major companies" allow access to bitcoin trades via new ETFs, according to Bitwise.
“I think there's a bigger wave coming in a few months, which is when the big companies start operating,” Matt Hogan, CIO of Bitwise, said in an interview with CNBC on February 29, adding that the first wave “Most of the momentum surrounding Bitcoin ETFs has come primarily from retail, hedge funds and independent financial advisors so the next wave will be driven by institutional capital,” said Hogan, who referred to ETFs as Bitcoin’s “IPO moment.”
Interestingly, two of the world's largest financial institutions, Bank of America's Merrill Lynch and Wells Fargo, have begun offering Bitcoin ETF services to their clients.
#BTC
#bitwise
#TrendingTopic
#Write2Earn
Bitcoin Spot ETFs See Highest Inflows in Two Months
The Bitcoin Spot Exchange-Traded Funds (ETFs) witnessed a significant surge in inflows, reaching a two-month high. Yesterday, a total of $302.9 million was funneled into Bitcoin Spot ETFs, marking a notable uptick in investor interest and confidence in these financial products.
Breakdown of Major Inflows:
Grayscale Investments (GBTC): $27 millionFidelity (FBTC): $131 millionArk Invest and 21Shares (ARKB): $39 millionBitwise (BITB): $86 million
This surge in inflows indicates a growing optimism among investors regarding Bitcoin's future prospects. The significant contributions from major players like Fidelity and Grayscale Investments highlight the increasing institutional interest in Bitcoin as a valuable asset.
The robust inflows into these ETFs not only underscore the rising demand for Bitcoin but also reflect the broader acceptance and integration of cryptocurrency into mainstream financial portfolios. As the market continues to evolve, the role of Bitcoin Spot ETFs is becoming increasingly pivotal, providing investors with a regulated and convenient way to gain exposure to Bitcoin's potential growth.
This renewed interest in Bitcoin Spot ETFs could be a bullish catalyst for the cryptocurrency market, signaling potential upward momentum in the near term. Investors and market watchers will be keenly observing how this influx impacts Bitcoin's price dynamics and the broader market sentiment.
#bitcoin #spotetf #grayscale #fidelity #bitwise
$BTC $ETH
Breakdown of Major Inflows:
Grayscale Investments (GBTC): $27 millionFidelity (FBTC): $131 millionArk Invest and 21Shares (ARKB): $39 millionBitwise (BITB): $86 million
This surge in inflows indicates a growing optimism among investors regarding Bitcoin's future prospects. The significant contributions from major players like Fidelity and Grayscale Investments highlight the increasing institutional interest in Bitcoin as a valuable asset.
The robust inflows into these ETFs not only underscore the rising demand for Bitcoin but also reflect the broader acceptance and integration of cryptocurrency into mainstream financial portfolios. As the market continues to evolve, the role of Bitcoin Spot ETFs is becoming increasingly pivotal, providing investors with a regulated and convenient way to gain exposure to Bitcoin's potential growth.
This renewed interest in Bitcoin Spot ETFs could be a bullish catalyst for the cryptocurrency market, signaling potential upward momentum in the near term. Investors and market watchers will be keenly observing how this influx impacts Bitcoin's price dynamics and the broader market sentiment.
#bitcoin #spotetf #grayscale #fidelity #bitwise
$BTC $ETH
XRP ETF Filing: Bitwise Seeks SEC Approval Amid Legal Ambiguity
XRP ETF Filing: Bitwise Seek SEC Approval XRP ETF Amid Legal Challenge
Bitwise Asset Management has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch a new Exchange-Traded Fund (ETF) focused on XRP, the cryptocurrency associated with Ripple Labs.
The proposed Spot XRP ETF aims to offer investors a regulated way to gain exposure to XRP without directly holding the asset. This filing marks a significant move by Bitwise, a key player in the cryptocurrency investment sector, as they look to expand their offerings and meet the growing demand for digital asset exposure among institutional and retail investors.
The Spot XRP ETF would be managed by BNY Mellon, with Coinbase Custody Trust Company handling the custody of XRP, bringing well-established financial institutions into the equation for added security and credibility.
By providing a regulated method to invest in XRP, Bitwise is helping to bridge the gap between traditional finance and the evolving cryptocurrency market.
XRP's Legal Status Could Impact ETF Approval
A major obstacle for the Spot XRP ETF is the ongoing legal dispute between Ripple Labs and the SEC. The SEC has accused Ripple of raising $1.3 Billion by selling XRP as an unregistered security.
This uncertainty casts a shadow over the proposed XRP ETF. Bitwise filing argues that XRP is a decentralized asset, recorded on a distributed ledger, and thus should not be classified as a security under federal laws.
However, if a court finds that XRP is indeed a security, the Spot XRP ETF could be considered an unregistered investment company, potentially leading to its liquidation.
Despite this, Bitwise remains confident in XRP’s potential and is moving forward with the filing, hopeful for a favorable resolution in the legal case. Bitwise XRP ETF approval could hinge on the outcome of the SEC-Ripple lawsuit.
The Growing Crypto ETF Market and What it Means for XRP
The launch of the Spot XRP ETF comes at a time when cryptocurrency ETFs are gaining momentum. Earlier this year, the SEC approved several spot Bitcoin ETFs, followed by Ethereum ETFs from major companies like BlackRock and Grayscale.
This shift shows growing acceptance of cryptocurrencies in traditional finance. Bitwise is looking to build on this trend with its XRP ETF, aiming to offer investors a secure, regulated option for exposure to XRP.
As XRP ETF 2024 predictions continue to evolve, the XRP ETF filing explained highlights the unique regulatory challenges the ETF faces. If approved, this could significantly boost investor confidence in XRP, further solidifying its place in the crypto ecosystem. However, as Ripple XRP ETF news continues to develop, Bitwise XRP ETF approval update remains a critical factor to watch.
Visit: CoinGabbar
#XRP_ETF #Ripple💰 #cryptonews #coingabbar #bitwise
Bitwise Asset Management has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch a new Exchange-Traded Fund (ETF) focused on XRP, the cryptocurrency associated with Ripple Labs.
The proposed Spot XRP ETF aims to offer investors a regulated way to gain exposure to XRP without directly holding the asset. This filing marks a significant move by Bitwise, a key player in the cryptocurrency investment sector, as they look to expand their offerings and meet the growing demand for digital asset exposure among institutional and retail investors.
The Spot XRP ETF would be managed by BNY Mellon, with Coinbase Custody Trust Company handling the custody of XRP, bringing well-established financial institutions into the equation for added security and credibility.
By providing a regulated method to invest in XRP, Bitwise is helping to bridge the gap between traditional finance and the evolving cryptocurrency market.
XRP's Legal Status Could Impact ETF Approval
A major obstacle for the Spot XRP ETF is the ongoing legal dispute between Ripple Labs and the SEC. The SEC has accused Ripple of raising $1.3 Billion by selling XRP as an unregistered security.
This uncertainty casts a shadow over the proposed XRP ETF. Bitwise filing argues that XRP is a decentralized asset, recorded on a distributed ledger, and thus should not be classified as a security under federal laws.
However, if a court finds that XRP is indeed a security, the Spot XRP ETF could be considered an unregistered investment company, potentially leading to its liquidation.
Despite this, Bitwise remains confident in XRP’s potential and is moving forward with the filing, hopeful for a favorable resolution in the legal case. Bitwise XRP ETF approval could hinge on the outcome of the SEC-Ripple lawsuit.
The Growing Crypto ETF Market and What it Means for XRP
The launch of the Spot XRP ETF comes at a time when cryptocurrency ETFs are gaining momentum. Earlier this year, the SEC approved several spot Bitcoin ETFs, followed by Ethereum ETFs from major companies like BlackRock and Grayscale.
This shift shows growing acceptance of cryptocurrencies in traditional finance. Bitwise is looking to build on this trend with its XRP ETF, aiming to offer investors a secure, regulated option for exposure to XRP.
As XRP ETF 2024 predictions continue to evolve, the XRP ETF filing explained highlights the unique regulatory challenges the ETF faces. If approved, this could significantly boost investor confidence in XRP, further solidifying its place in the crypto ecosystem. However, as Ripple XRP ETF news continues to develop, Bitwise XRP ETF approval update remains a critical factor to watch.
Visit: CoinGabbar
#XRP_ETF #Ripple💰 #cryptonews #coingabbar #bitwise
