Key facts
- Bitwise filed an updated prospectus for its XRP ETF on September 28.
- The Bitwise XRP ETF lists on NYSE Arca under the ticker XRP.
- The fund aims to provide direct exposure to the value of XRP held by the Trust.
Bitwise has filed an updated prospectus for its XRP ETF, maintaining current offering information as the fund continues to issue shares. The ETF, listed under the ticker XRP on NYSE Arca, has seen cumulative net inflows of $415.07 million as of September 28, indicating sustained investor demand.
The updated prospectus and continued inflows for the Bitwise XRP ETF signal ongoing investor interest in regulated digital asset investment products, potentially influencing demand for XRP.
Bitwise has filed an updated prospectus for its XRP ETF, dated September 28, to keep its offering information current as it issues shares. The fund, which trades on NYSE Arca under the ticker XRP, aims to offer investors direct exposure to the value of XRP held by the Trust. The net asset value of the fund is calculated using the CME CF XRP-Dollar Reference Rate-New York Variant. Shares are created and redeemed in blocks of 10,000, allowing authorized participants to generate additional ETF shares. Coinbase Custody Trust Company holds the Trust's XRP in segregated accounts. The ETF is passively managed with an annual sponsor fee of 0.34% of the Trust's XRP holdings, meaning it will not actively trade XRP to outperform its value. According to CoinGlass data, the Bitwise XRP ETF had accumulated $415.07 million in cumulative net inflows as of September 28. The fund experienced several days of solid inflows, including $12.47 million on September 22, $7.34 million on September 23, and $6.60 million on September 24, with another $11.99 million on September 25. A withdrawal of $1.21 million occurred on September 18, but recent inflows have offset this. The Canary XRP ETF also reported inflows on September 28.
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