Bitwise, a crypto native asset manager, has taken an important step by registering a trust entity in Delaware, a precursor for creating an ETF that tracks XRP.
The firm’s registration aligns with actions taken by major players like Blackrock and Fidelity, who also registered trust entities prior to filing for their respective ETFs for Bitcoin and Ethereum.
A Bitwise spokesperson confirmed the legitimacy of the filing, reinforcing that this is a significant move in the context of previous false filings regarding XRP ETFs.
Despite the announcement, XRP's price remained stable amidst a broader market decline, indicating that investor sentiment around crypto ETFs may still be cautious.
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