Bitwise Launches Spot XRP ETF on NYSE Under “XRP” Ticker
Bitwise Asset Management will launch its spot XRP ETF on the New York Stock Exchange under the ticker XRP starting Thursday. The fund carries a 0.34% management fee, waived for the first month on the initial $500 million, and provides direct, physically backed exposure to XRP via Coinbase Custody Trust Company’s cold storage. The ETF’s NAV is benchmarked to the CME CF XRP-Dollar Reference Rate to curb price manipulation. CIO Matt Hougan highlights XRP’s low operating cost, over 4 billion transactions throughput and active supporter community. The listing follows regulatory clarity from the GENIUS Act and trails Canary Capital’s XRPC debut on November 13 with $58 million in first-day volume, ahead of upcoming Grayscale and Franklin Templeton launches. Despite XRP’s recent 15% drop to $2.01, JPMorgan projects $4 billion–$8 billion net inflows into XRP ETFs within six months. The spot XRP ETF launch is poised to tighten spreads, boost liquidity and attract stronger institutional demand.
Bullish
The launch of a spot XRP ETF by Bitwise on the NYSE underlines growing institutional acceptance and regulatory clarity, which historically drive bullish sentiment. In the short term, fee waivers and real-asset backing may spur immediate inflows, tightening spreads and boosting XRP liquidity. Over the long term, JPMorgan’s forecast of $4 billion–$8 billion in six-month net inflows suggests sustained demand, potentially reversing XRP’s recent slump and supporting higher price floors. This combination of improved market structure and projected capital inflows points to a bullish outlook for XRP.