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Thursday Nov 20 2025 06:10
2 min
Bitwise Asset Management has confirmed the launch of its new spot exchange-traded fund (ETF) tracking XRP, slated for Thursday under the ticker “XRP.” The fund will be listed on the New York Stock Exchange, an announcement that has been met with both enthusiasm and some concern within the crypto community.
While the launch is anticipated, the choice of “XRP” as the ticker symbol has sparked debate. Typically, crypto ETFs incorporate a recognizable abbreviation of the asset manager's name and the underlying crypto asset, such as Fidelity’s FBTC and ARK Invest’s ARKB for Bitcoin, or Bitwise’s Solana ETF BSOL and BlackRock’s Ether Trust ETHA. Some users have questioned how the SEC approved the ticker.
X user Krippenreiter, a DeFi educator, expressed concern about potential confusion, asking how Bitwise managed to secure “XRP” as the official ticker. Others echoed this sentiment, questioning the regulatory oversight that allowed for a ticker symbol so easily conflated with the asset itself.
Software engineer Vincent Van Code suggested the ticker choice might be strategic, envisioning a future where native XRP becomes a wholesale settlement token, with retail investors primarily trading the ETF. This would facilitate wholesale custody and transfers, he argued.
Bitwise initially filed for its spot XRP ETF with the SEC in October 2024. Previously, the company launched the Bitwise Physical XRP ETP, under the ticker GXRP, across Europe in 2022.
Bitwise chief investment officer Matt Hougan stated that “XRP is a really intriguing asset” due to its long-term operational success at low cost, high transaction volumes, and a strong community. He believes the new regulatory environment levels the playing field, allowing the market to assess XRP's true potential.
Canary Capital launched its XRPC ETF on November 13, attracting over $250 million in inflows on its first day. Bloomberg ETF analyst James Seyffart anticipates potential launches of Grayscale’s and Franklin Templeton’s XRP ETFs around November 24. Hougan also expects a surge in ETF launches following the end of the US government shutdown.
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