The long-awaited XRP exchange-traded fund (ETF) from Bitwise could soon become a reality. Bitwise, the $15 billion asset management giant, has just submitted Amendment No. 4 to its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC), revealing two crucial details.
Experts believe such updates usually signal the final step before approval. If cleared by the SEC, the XRP ETF could go live within just 20 days.
Two Major Updates in Bitwise XRP ETF
On Oct 31, Bitwise filed an Amendment No. 4 with the SEC to update its S-1 form. The latest updated document includes two crucial details: first, the listing venue will be the New York Stock Exchange (NYSE); and second, the management fee will be 0.34%.
Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing marks a major step forward for XRP’s entry into traditional finance. “Adding the NYSE and fee means Bitwise has checked nearly all boxes.”
Historically, once issuers include exchange and fee details in their S-1 forms, it usually means they’re just waiting for the final green light from the SEC.
XRP ETF Could Launch in 20 Days
Following the update news, ETF expert James Seyffart of Bloomberg Intelligence added more context to it, noting that Bitwise’s latest filing contains “shorter language” that could allow the product to go live within just 20 days, pending SEC clearance.
Seyffart noted that Bitwise isn’t alone, major players like VanEck, Fidelity, and Canary Funds have also updated their filings, signaling that the race to launch an XRP ETF is heating up fast.
Meanwhile, Crypto America host Eleanor Terrett revealed that Canary Funds removed the “delaying amendment” from its S-1 filing, which gives the SEC control over timing.
This sets Canary’s XRP ETF up for a launch date of November 13, if the Nasdaq approves its 8-A filing.
Impact of XRP ETF on Price
After the latest XRP ETF updates, XRP’s price saw a small uptick, trading around $2.51, showing growing optimism among traders.
Analysts say that if the XRP ETF gets approved, it would mark the first-ever U.S. spot ETF for XRP, a historic moment that could push the token toward its all-time high price.
At present, XRP faces strong resistance near the $2.75 level. A breakout above this could open the door for a test of the $3 psychological mark.
However, if selling pressure continues, XRP might correct by up to 19%, retesting the $2 support zone within its long-term channel pattern.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
The Bitwise XRP ETF is a proposed investment fund tracking XRP’s price, awaiting SEC approval. It would trade on the NYSE, making it easier for traditional investors to gain exposure to the asset.
The XRP ETF could launch as soon as 20 days after SEC approval. One issuer, Canary Funds, has a potential launch date of November 13, but this is still pending final regulatory and exchange clearance.
An XRP ETF approval is widely expected to boost the price by increasing demand and institutional legitimacy. This could help it break key resistance levels and challenge its all-time high.
Yes, once approved and live, retail investors can buy shares of the XRP ETF through any standard brokerage account, just like a stock, making investment accessible without holding XRP directly.
When the XRP ETF launches, you can purchase it through your usual online broker by searching for its ticker symbol. It will be listed on major exchanges like the NYSE for easy access.
Key risks include XRP’s inherent price volatility, regulatory uncertainty, and market sentiment shifts. An ETF carries fund-specific risks like fees but simplifies exposure compared to direct ownership.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed