Bitwise XRP ETF Sees Continued Demand with New Prospectus Filing

Bitwise has filed an updated prospectus for its XRP ETF, showing continued demand for the investment product. The new Form 424B3 prospectus was dated September 28 and maintains the fund's offering information up-to-date as it issues shares.

The Bitwise XRP ETF aims to give investors direct exposure to the value of XRP in the possession of the Trust, with its net asset value calculated based on the CME CF XRP-Dollar Reference Rate-New York Variant. The fund holds XRP in the custody of Coinbase Custody Trust Company and has segregated accounts for the Trust's XRP.

Bitwise has an annual sponsor fee of 0.34% of the Trust's XRP holdings, and the fund is passively managed to track the value of XRP without attempting to actively trade it. The ETF lists on NYSE Arca under the ticker XRP and allows authorized participants to generate additional shares in baskets of 10,000.

The Bitwise XRP ETF has seen significant inflows, with $415.07 million in cumulative net inflows up to September 28 according to CoinGlass data. Recent inflow sessions include $12.47 million on Sept. 22, $7.34 million on Sept. 23, and $6.60 million on Sept. 24.