Table of Contents

• Bitwise XRP ETF Application Emerges
• Ripple CEO Previously Hinted at XRP ETF
• XRP ETF Rumors and Implications
• SEC vs. Ripple's Long-Running Dispute

Bitwise XRP ETF Application Emerges

According to Cointelegraph reporting, a recent application for a Bitwise XRP exchange-traded fund (ETF) surfaced on the Delaware Division of Corporations website. Documents show that Bitwise XRP ETF was registered on September 30, 2024, with CSC Delaware Trust Company in Wilmington, Delaware, serving as the registered agent.

It's important to note that this application in Delaware doesn't necessarily mean a registration application has been submitted to the U.S. Securities and Exchange Commission (SEC). It could be an early step in preparation for a future ETF launch, and it might take months before a formal SEC filing is made.

Ripple CEO Previously Hinted at XRP ETF

This application's submission aligns with Ripple CEO Brad Garlinghouse's earlier predictions about an XRP ETF. Following the launch of Bitcoin and Ethereum ETFs in the US, he had stated that an XRP ETF was "inevitable." If an XRP ETF is eventually approved, it would enable institutional investors to participate in the XRP market through a regulated investment vehicle, potentially boosting liquidity and token adoption.

XRP ETF Rumors and Implications

The market has been abuzz with rumors about an XRP ETF launch in recent months. In November 2023, a fake application for a "BlackRock iShares XRP Trust" emerged in Delaware, fueling speculation about an imminent XRP ETF launch and driving XRP prices up by 12%. However, BlackRock denied the application, and the Delaware Attorney General is currently investigating the truth behind this fraudulent filing.

SEC vs. Ripple's Long-Running Dispute

Bitwise's application in Delaware comes amid Ripple Labs' lengthy legal battle with the SEC. In 2020, the SEC sued Ripple, alleging that its XRP sales constituted unregistered securities offerings. However, in July 2023, Judge Analisa Torres ruled that XRP did not constitute a security when sold on public exchanges, delivering a partial victory for Ripple. Nevertheless, the institutional sales of XRP may still be considered securities offerings.

In September 2024, the case took a new turn as the SEC and Ripple jointly requested a stay of the final judgment, pending the outcome of the SEC's appeal. If the request is granted, the court will halt further proceedings until the appeal's result is known.