Crypto asset manager Bitwise has filed an initial registration statement for a spot XRP ETF with the US SEC, confirming speculations from September 30. This move reflects ongoing interest in XRP ETFs, despite regulatory challenges.
Bitwise CEO Hunter Horsley expressed confidence in XRP's potential, highlighting it as an enduring asset recognized by mainstream investors. Another XRP ETF filing from Canary Capital, founded by Steven McClurg, has also surfaced, indicating growing interest in XRP investment opportunities.
The regulatory status of XRP remains contentious, linked to the SEC's 2020 lawsuit against Ripple. A partial ruling favored Ripple, impacting XRP's future as the SEC considers an appeal by October 7. This ruling could influence Bitwise's and other ETFs' approval chances.
Despite optimism, XRP's market price fell 7%, mirroring broader market declines, but maintains a 5% gain over the past month. Investors await a full ripple victory, which could impact XRP's price and investor confidence positively.