NEW YORK / LONDON (IT BOLTWISE) – Bitwise’s launch of an XRP ETF could soon become a reality. With its Fourth Amendment filing with the US Securities and Exchange Commission (SEC), Bitwise has revealed crucial details. Experts expect approval could come within 20 days.
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The prospect of an XRP ETF from Bitwise is causing a stir in the financial world. Bitwise, a leading asset manager with $15 billion in assets under management, recently filed the fourth amendment to its filing with the U.S. Securities and Exchange Commission (SEC). This change contains two key details: the ETF will be listed on the New York Stock Exchange (NYSE) and will charge a management fee of 0.34%. These steps are seen by experts as the final hurdles before final approval.
Historically, the inclusion of exchange and fee information on S-1 forms signals that SEC approval is imminent. If the application is approved, the XRP ETF could launch in just 20 days. Eric Balchunas, a senior ETF analyst at Bloomberg, sees Bitwise’s recent filing as a significant step forward for integrating XRP into traditional finance.
The news of the impending approval is already having an impact on the market. The price of XRP rose slightly and was last trading at around $2.51. Analysts believe that the approval of the XRP ETF would mark a historic moment as it would be the first spot ETF for XRP in the US. This could push the token towards its all-time high, although it is currently facing strong resistance at the $2.75 level.
However, the competition never sleeps. In addition to Bitwise, other major players such as VanEck, Fidelity and Canary Funds have also updated their applications, suggesting that the race to launch an XRP ETF is gaining momentum. Most notably, Canary Funds removed the “delaying amendment” from its S-1 filing, giving the SEC control over the timing and allowing for a possible launch date of November 13th if Nasdaq approves its 8-A filing.
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