{"id":101613,"date":"2024-11-27T09:39:53","date_gmt":"2024-11-27T13:39:53","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101613"},"modified":"2024-11-27T09:39:57","modified_gmt":"2024-11-27T13:39:57","slug":"ripple-to-invest-in-bitwise-xrp-etp","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-to-invest-in-bitwise-xrp-etp\/","title":{"rendered":"Ripple to Invest in Bitwise XRP ETP"},"content":{"rendered":"\n

Ripple has announced that it will invest in Bitwise's XRP exchange-traded product <\/a>(ETP) as the issuer rebrands the offering to enhance its presence in the European market.<\/p>\n\n\n\n

\"Ripple
Ripple to Invest in Bitwise XRP ETP<\/figcaption><\/figure>\n\n\n\n

Bitwise declared on November 7 that it would rename its European XRP ETP, the ETC Group Physical XRP, to the Bitwise Physical XRP ETP. Its ticker symbol, GXRP, will remain unaltered.<\/p>\n\n\n\n

The transaction continued Bitwise's entry into the European market in August when it acquired the ETC Group, a crypto investment firm that manages $1 billion in assets. <\/p>\n\n\n\n

This firm includes physical crypto ETPs, the Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), MSCI Digital Assets Select 20 (DA20), and GXRP.<\/p>\n\n\n\n

A physical ETP is a product that monitors the performance of underlying assets, which are also purchased and held by the product's issuer.<\/p>\n\n\n\n

Bitwise XRP ETP Targets Europeans<\/h2>\n\n\n\n

The Bitwise Physical XRP ETP is intended to expose European investors to XRP using a physically backed product that retains the underlying asset.<\/p>\n\n\n\n

Hunter Horsley, the CEO and co-founder of Bitwise, stated in a news release that the XRP Ledger\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and XRP are among the most recognizable and trusted blockchains in the industry.<\/p>\n\n\n\n

Horsley stated, “We are delighted to offer investors access to an institutional-quality product in the form of the Bitwise Physical XRP ETP (GXRP).”<\/p>\n\n\n\n

In addition to expanding operations across the continent, Bitwise intends to rebrand its complete European ETP portfolio.<\/p>\n\n\n\n

In 2024, Bitwise reported substantial growth, with over $10 billion in client assets. The company also intends to introduce additional institutional-grade crypto ETPs.<\/p>\n\n\n\n

The company has recently expanded its line of crypto-based products. Bitwise implemented its inaugural Aptos staking ETP on November 12. On November 26, it submitted an S-1 registration for an exchange-traded fund (ETF) that prioritizes Bitcoin and Ether.<\/p>\n\n\n\n

Ripple invests in GXRP<\/h2>\n\n\n\n

In addition to the rebrand, Bitwise announced that Ripple will invest in GXRP. Ripple CEO Brad Garlinghouse emphasized a significant increase in global demand for crypto-backed investment products in 2024, although the financial details remained undisclosed.<\/p>\n\n\n\n

Garlinghouse stated that increasing demand for crypto ETPs<\/a>, such as the Bitwise Physical XRP ETP, is expected to continue as the regulatory environment for crypto in the United States becomes more transparent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple has announced that it will invest in Bitwise’s XRP exchange-traded product (ETP) as the issuer rebrands the offering to enhance its presence in the European market. Bitwise declared on November 7 that it would rename its European XRP ETP, the ETC Group Physical XRP, to the Bitwise Physical XRP ETP. Its ticker symbol, GXRP, […]<\/p>\n","protected":false},"author":12,"featured_media":101615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[23112,23113,4685,142],"class_list":["post-101613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripples-news","tag-bitwise-xrp-etp","tag-crypto-etp","tag-europe","tag-ripple"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/BitwiseXRP-ETP.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101613"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101615"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}