Key Takeaways:
- Bitwise XRP ETF starts trading November 20 on NYSE with low introductory fee.
- XRP ranks as third-largest crypto by market cap, powering efficient cross-border payments.
- Altcoin ETF wave accelerates after SEC procedural updates, boosting inflows for Solana and XRP funds.
Bitwise Asset Management launches its spot XRP ETF on the New York Stock Exchange November 20. The fund trades under the ticker XRP and offers direct exposure to the cryptocurrency’s price.
Investors gain access to XRP through a regulated vehicle. Bitwise sets a management fee of 0.34 percent, waived for the first month on the initial $500 million in assets.
Bitwise Spot XRP ETF Details and Features
Chief Investment Officer at Bitwise Matt Hougan highlighted XRP’s strengths. “XRP is a really intriguing asset for several reasons,” Hougan said. The token operates successfully for over 13 years at low cost and processes high transaction volumes.
XRP holds the position of the world’s third-largest non-stablecoin cryptocurrency. It commands a market capitalization exceeding $120 billion. The XRP Ledger facilitated more than four billion transactions since inception.
The ETF provides physically backed exposure to XRP. Bitwise previously offered a similar product in Europe under ticker GXRP. This U.S. launch marks the firm’s expansion into American altcoin funds.
Surge in Altcoin ETF Launches
The U.S. market experiences a rapid increase in altcoin ETFs. Recent approvals cover Solana, Litecoin, Hedera, and now XRP products. Six spot Solana ETFs operate currently, accumulating $420.4 million in net inflows since late October.
As reported earCanary Capital introduced the first U.S. spot XRP ETF last week under ticker XRPC. That fund attracted strong early interest from investors.
Securities and Exchange Commission guidance clarified procedures for crypto ETF rollouts. Issuers now follow a streamlined path without requiring explicit agency approval for certain filings.
Upcoming XRP and Altcoin Products
More XRP-focused funds approach the market. Grayscale plans to convert its XRP trust into a spot ETF soon. Bloomberg analyst James Seyffart expects Grayscale’s product to debut November 24, potentially alongside its Dogecoin ETF.
Franklin Templeton also prepares an XRP ETF for possible launch around the same date. Additional filings target Cardano, Avalanche, and Polkadot exposure.
This cluster of launches reflects growing institutional demand for diversified crypto investments beyond Bitcoin and Ether. Spot products track underlying asset prices directly, appealing to traditional portfolios seeking regulated crypto access.
