Bitwise XRP ETF lists on NYSE; ‘XRP’ ticker raises questions 

The ETF is designed to track the spot price of XRP, giving investors stock-market access to the asset through a regulated vehicle that can be bought and sold like shares. Bitwise confirmed both the NYSE listing and the ticker in its announcement.

Bitwise filed for a U.S. spot XRP ETF with the Securities and Exchange Commission in October 2024 and has operated the Bitwise Physical XRP ETP (GXRP) in Europe since 2022, giving the firm experience running XRP-linked products outside the United States.

The ticker choice departs from common crypto ETF naming, where codes often combine the issuer and the asset. Examples include Fidelity’s FBTC and ARK Invest’s ARKB for bitcoin exposure, Bitwise’s BSOL for Solana, and BlackRock’s ETHA for ether. Using “XRP” mirrors the token’s market shorthand across crypto venues.

On X, reactions ranged from approval to concern. “How were you able to choose XRP to be your official ticker? Now we will need to write explainers to differentiate between XRP, the asset, and XRP the Bitwise ETF,” wrote Krippenreiter, who describes himself as a technician and DeFi educator.

Others welcomed the branding. Software engineer Vincent Van Code argued that retail activity could gravitate to the fund while the token serves wholesale uses: “Native XRP will become the wholesale token, and the majority of retail will simply trade the ETF. Wholesale settlement, wholesale custody, wholesale transfers.”

Bitwise’s chief investment officer, Matt Hougan, highlighted XRP’s operating history and costs. In a statement, he described XRP as “a really intriguing asset,” noting it “has operated successfully for a very long period of time at extremely low cost, it processes high transaction volumes, and it has a really strong and vibrant community of supporters.” He added, “In the new crypto-forward regulatory regime, XRP stands on an equal playing field with other digital assets. Now the market will have the opportunity to see what XRP can really do.”

For investors, trading the ETF differs from holding XRP directly. The fund aims to reflect the asset’s price through creations and redemptions handled by authorized participants and is subject to its methodology and fees. Holding the token involves blockchain custody and managing private keys.

As we covered previously, this month, Bitwise has also listed its proposed spot-ETF for Chainlink on the registry of the Depository Trust & Clearing Corporation (DTCC) under the ticker symbol CLNK. The listing appears both under “active” and “pre-launch” categories, signalling progress in the regulatory process.