Bitwise XRP ETP Rebranding Amid Ripple’s Investment Push
Bitwise Asset Management has announced the rebranding of its European XRP ETP (exchange-traded product). This is part of its wider strategy to strengthen its foothold in the cryptocurrency investment space.
The product, now named Bitwise Physical XRP ETP (GXRP), represents a renewed commitment to XRP as a key investment tool.
Bitwise renames product to physical XRP ETP
This rebrand marks an important milestone for Bitwise. The asset manager expanded into Europe earlier this year Acquisition of ETC Groupa local cryptocurrency ETP issuer. At the same time, the GXRP ETP, which is 100% physically backed and regulated by German financial authorities, provides European investors with safe XRP exposure.
This move is consistent with Ripple’s announcement of investment in GXRP, indicating the growing interest of institutions in XRP and their confidence in XRP’s potential. Ripple CEO Brad Garlinghouse emphasized XRP’s unique value proposition, especially given the growing global demand for crypto investment products.
“XRP is at the forefront as a utility-driven digital asset,” excerpted from announcement Read, quoting Garlinghouse.
He also predicts that regulatory clarity in the United States will further fuel interest in cryptocurrency-backed products. Notably, Ripple has been at the core of XRP adoption, leveraging XRP Ledger (XRPL) For applications such as cross-border remittances, Tokenizationand institutions Decentralized Finance. this XRPLKnown for its efficiency and reliability, XRP has solidified its position as the fifth largest cryptocurrency.
“XRP and XRP Ledger are one of the most familiar and trusted blockchains in crypto. We are excited to provide access through an institutional-grade product like GXRP,” said Hunter Horsley, CEO of Bitwise.
XRP, which has a market capitalization of over $82 billion, rose nearly 3% on the news. According to BeInCrypto datathe coin is trading at $1.43 at the time of writing.
Trump administration about to launch XRP ETF
Elsewhere, Bitwise’s commitment to XRP extends beyond Europe. In October, the company Revised its U.S. XRP ETF filing follow its Initial application earlier that month.
The submissions reflect the growing momentum in the race for an XRP ETF, with competitors such as Canary Capital and, most recently, WisdomTree joining the fray. Garlinghouse recently expressed optimism, saying XRP ETF approval “inevitable“.
“We clearly see ETFs are popular… The U.S. SEC approved a Bitcoin ETF in January…$17 billion flowed into the fastest growing ETF in history. It clearly shows institutional and retail entry into the asset class needs,” Garlinghouse explain.
Traditional financial giants such as BlackRock Still on the sidelines, no plans have been announced to explore an XRP ETF. The concern is that while XRP benefits from real-world utility, its reliance on the Ripple ecosystem could limit wider adoption. This, plus Ripple and the SEC (Securities and Exchange Commission) lawsuits continue to hinder XRP ETF.
Still, while the U.S. market remains a challenge, Europe provides fertile ground for crypto ETPs. Plans to launch more institutional-grade products will support Bitwise’s European strategy. These include Aptos Staking ETP Launched earlier this month on SIX Swiss Exchange.
Donald Trump was recently re-electedmany experts believe that this may be A more crypto-friendly regulatory environmentinspiring new optimism. Analysts say Trump’s victory has revived optimism for crypto ETFs, including XRP and Solana ETFs, as his administration expected Adopt policies that favor digital assets.
Bitwise, which manages more than $10 billion in client assets, believes this is a good time to solidify its leadership in the space.
“Regulatory clarity will facilitate the emergence of cryptocurrency-backed investment products,” Horsley noted.
Nonetheless, Bitwise’s progress highlights growing institutional interest in crypto-enabled products. The company’s move into Europe reflects its strategic focus on taking advantage of global opportunities, even as the U.S. market remains complex.
Disclaimer
follow trust project BeInCrypto is committed to fair and transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on the content of this article. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
