Bitwise Don Launch Spot XRP ETF for NYSE Under
Bitwise Asset Management go launch dia spot XRP ETF for New York Stock Exchange wit ticker XRP come Thursday. The fund dey carry 0.34% management fee, but dem go waive am for di first month on di first $500 million. E go give direct, physically backed exposure to XRP through Coinbase Custody Trust Company cold storage. Di ETF NAV dey benchmark to CME CF XRP-Dollar Reference Rate to avoid price manipulation. CIO Matt Hougan talk say XRP get low operating cost, more than 4 billion transactions, and active supporter community. Dis listing follow regulatory clarity from GENIUS Act and follow after Canary Capital’s XRPC launch for November 13 with $58 million first-day volume, before Grayscale and Franklin Templeton launch dem. Even though XRP drop 15% to $2.01 recently, JPMorgan predict $4 billion to $8 billion net inflows into XRP ETFs within six months. Di spot XRP ETF launch go tighten spreads, boost liquidity and attract stronger institutional demand.
Bullish
Di launch of spot XRP ETF by Bitwise for NYSE dey show say institutional acceptance dey grow plus regulatory clarity, wey normally dey make market bullish. Short term, fee waivers plus real asset backing fit make money flow quick quick, tighten spread and make XRP liquidity better. Long term, JPMorgan prediction of $4 billion–$8 billion net inflows inside six months show say demand go last, fit reverse recent dip for XRP and support higher price floors. This combination of better market structure plus capital inflows wey dem forecast mean better outlook for XRP.