Asset manager Bitwise filed for an XRP exchange-traded fund (ETF) on Sept. 30 with Delaware’s Division of Corporations.
The document consists of a registration for a Delaware statutory trust, a legally recognized trust set up for business.
Bitwise CIO Matt Hougan confirmed the development and told CryptoSlate that more information would be released in the coming days.
The most infamous example is the Grayscale Bitcoin Trust, which was turned into an ETF in January this year. Notably, Grayscale introduced an XRP trust on Sept. 12. The XRP-related movements follow the end of a four-year-long dispute between XRP’s issuer, Ripple Labs, and the US Securities and Exchange Commission (SEC).
Ripple was fined $125 million as a result of the SEC’s partial win in a motion for remedies.
However, District Judge Analisa Torres from the District Court of the Southern District of New York did…
