Bitwise launches first spot XRP ETF on NYSE

The fund trades on the NYSE under the ticker XRP. The manager set the fee at 0.34% per year but is waiving it at launch: for the first month, no fee will be charged on the first $500 million in assets under management. The listing is backed by roughly $2.3 million in seed capital contributed by market makers and authorized participants before trading began.

Bitwise stresses that this is a spot product. The ETF directly holds XRP, one of the three largest crypto assets by market capitalization and the native settlement asset of the XRP Ledger network. This blockchain is built for fast, low‑cost transactions and is already being used in cross‑border payments and tokenization pilots for traditional assets.

Bitwise CIO Matt Hougan describes XRP as “a resilient, technology‑driven asset with a real user and developer community.” He notes that after regulators clarified the token’s status, XRP now operates in an environment comparable to other major cryptocurrencies, giving the market a clearer way to assess its potential.

Bitwise CEO Hunter Horsley adds that investor interest in digital assets is gradually shifting from pure speculation to practical use in financial infrastructure. In his view, the new ETF gives investors a straightforward way to participate in any future growth of XRP that may come from the expansion of payment and settlement solutions built on XRP Ledger.

For Bitwise, the XRP ETF is a logical extension of its ambitious ETF strategy. The firm manages more than $15 billion in client assets and in recent months has been rolling out products that go beyond bitcoin and ether. It has filed for the first US spot Chainlink ETF, as well as a spot HYPE token ETF linked to the Hyperliquid ecosystem.

Bitwise also runs the Solana Staking ETF (ticker BSOL), the first US spot product tied to SOL. On the back of that launch, Hougan has publicly talked about a possible “Solana season” that could be driven by ETF inflows and interest from corporate treasuries. The arrival of the XRP ETF follows the same logic: large asset managers are steadily moving the crypto asset universe into a format that feels familiar to both institutional and retail investors — exchange‑traded funds.