Ripple announced its investment in the rebranded Bitwise Physical XRP exchange-traded product (ETP) on Wednesday, signaling its commitment to expanding access to XRP in institutional markets. The move highlights XRP’s growing importance in the cryptocurrency sector, with a market value exceeding $80 billion. Ripple’s CEO, Brad Garlinghouse, emphasized:

Global demand for exposure to the crypto asset class has exploded in 2024, fueled by a growing interest in crypto-backed investment offerings. With the U.S. regulatory environment for crypto finally becoming more clear, this trend is poised to accelerate, further driving demand for crypto ETPs, such as the Bitwise Physical XRP ETP.

The investment reflects Ripple’s strategy to capitalize on XRP’s liquidity, utility, and trustworthiness. Garlinghouse underscored XRP’s value as “one of the most valuable, liquid, and utility-driven digital assets.”

Bitwise Asset Management also announced that it has renamed its European XRP ETP to the Bitwise Physical XRP ETP, aligning with its strategic portfolio shift. CEO Hunter Horsley praised XRP and its blockchain, the XRP Ledger (XRPL), for their reliability and expanding capabilities over a decade:

XRP and the XRP Ledger are among the most familiar and trusted blockchains in crypto. XRPL is unique with over 10 years of track record in reliability, while continuing to expand in capabilities.

This development follows Bitwise’s acquisition of ETC Group in August and its subsequent European expansion. The firm now manages over $10 billion in client assets and has introduced products like the Bitwise Aptos Staking ETP on the Six Swiss Exchange.

XRP ETFs have gained attention as institutional interest in the cryptocurrency grows. Global asset manager Wisdomtree has filed to create a Delaware statutory trust for an XRP ETF in the U.S. Meanwhile, in Europe, the firm introduced the Wisdomtree Physical XRP ETP, listed on major exchanges like Deutsche Börse Xetra and Euronext. These moves follow the broader trend of tokenized funds gaining traction. These developments signal increasing confidence in XRP’s utility and market stability, as regulatory clarity around the token continues to evolve.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。