The long-awaited Bitwise XRP exchange-traded fund (ETF) could soon become a reality. $15 billion asset management giant Bitwise has filed Amendment No. 4 to its XRP ETF application with the U.S. Securities and Exchange Commission (SEC), revealing two key details.
Experts believe such updates typically mark the final step before approval. If approved by the SEC, the XRP ETF could become operational in as little as 20 days.
Two major updates to Bitwise XRP ETF
On October 31, Bitwise filed Amendment No. 4 with the SEC updating its S-1 Form. The latest update document includes two important details. One is that the company will be listed on the New York Stock Exchange (NYSE). Next, the management fee will be 0.34%.
Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing is a major step forward for XRP’s entry into traditional finance. “Adding NYSE and fees means Bitwise has checked almost every box.”
Historically, when issuers include exchange and fee details on their S-1 forms, it usually means they simply wait for a final green light from the SEC.
XRP ETF could launch within 20 days
Following news of the update, Bloomberg Intelligence ETF expert James Seifert added further context, noting that Bitwise’s latest filing includes “shorter language” that could allow the product to go live in as little as 20 days, pending SEC approval.
Seyffart pointed out that in addition to Bitwise, other major companies such as VanEck, Fidelity, and Canary Funds have also updated their filings, suggesting that the race to launch an XRP ETF is heating up quickly.
Meanwhile, Crypto America host Eleanor Terret revealed that Canary Funds has removed a “delay amendment” from its S-1 filing that gave timing control to the SEC.
This would set the launch date for Canary’s XRP ETF to be November 13th, if Nasdaq approves the 8-A filing.
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Impact on XRP ETF price
After the latest XRP ETF update, the price of XRP rose slightly and was trading around $2.51, showing increased optimism among traders.
Analysts say that if the XRP ETF is approved, it would be the first-ever XRP spot ETF in the United States, a historic moment that would push the token towards all-time highs.
Currently, XRP is facing strong resistance near the $2.75 level. A break above this could open the door to a test of the $3 psychological mark.
However, if selling pressure continues, XRP could correct by up to 19% and retest the $2 support zone within a long-term channel pattern.
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FAQ
The Bitwise XRP ETF is a proposed investment fund that tracks the XRP price and is awaiting SEC approval. It will be traded on the New York Stock Exchange, making it easier for traditional investors to gain exposure to the asset.
The XRP ETF could be launched as early as 20 days after SEC approval. The launch date for one of the issuers, Canary Funds, could be November 13, but this is still pending final regulatory and exchange approvals.
The approval of the XRP ETF is widely expected to drive prices higher due to increased demand and institutional legitimacy. This could help break through a major resistance level and challenge all-time highs.
Yes, once approved and effective, individual investors will be able to purchase shares of the XRP ETF through a standard brokerage account just like stocks, allowing them to invest without directly owning XRP.
Once the XRP ETF is launched, you can purchase it through your regular online broker by searching for its ticker symbol. It will be listed on major exchanges such as the NYSE for easy access.
Key risks include XRP-specific price volatility, regulatory uncertainty, and changes in market sentiment. ETFs come with fund-specific risks, such as fees, but they simplify exposure compared to direct ownership.
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