Bitwise Lists XRP ETF on NYSE Arca with $616 Million in Assets

The Bitwise XRP ETF has been listed on NYSE Arca under the ticker XRP, providing exposure to the cryptocurrency held directly by the trust. The fund currently has approximately $616.4 million in assets under management and a 0.34% expense ratio.

Bitwise lists Coinbase Custody Trust Company as the custodian of the XRP, responsible for safeguarding the underlying cryptocurrency. This setup allows investors to buy ETF shares without managing wallets or private keys themselves.

The fund calculates its net asset value (NAV) using the CME CF XRP-Dollar Reference Rate, New York Variant, providing a standardized benchmark rather than relying on a single crypto exchange.

Bank of New York Mellon supports the traditional finance side of the structure as the administrator and trust custodian. The bank is also responsible for issuing and redeeming shares, maintaining shareholder accounts, and producing reports for the trust.