The Bitwise XRP ETF (Ticker: XRP) Begins Trading on NYSE with 0.34% Management Fee; Fee Set at 0% for First Month on $500M in Assets

Core Viewpoint - The launch of the Bitwise XRP ETF aims to provide investors with exposure to XRP, the third-largest cryptocurrency, which has the potential to transform the global payments market valued at $250 trillion by 2027 [3][5]. Company Overview - Bitwise Asset Management, a global crypto asset manager, manages over $15 billion in client assets and has launched the Bitwise XRP ETF on the NYSE with a management fee of 0.34%, waived for the first month on the first $500 million in assets [2][8]. - The Bitwise XRP ETF is the 49th investment product in Bitwise's portfolio, which includes a variety of crypto investment products across the U.S. and Europe [6]. Product Details - The Bitwise XRP ETF will hold spot XRP, which has a market capitalization exceeding $125 billion and a 13-year operational history [3]. - The XRP Ledger has processed over 4 billion transactions with an average daily volume of $1.9 billion and an average settlement time of 3-5 seconds [3]. - The ETF is designed to help investors gain exposure to XRP, which is positioned to disrupt the cross-border payments market [3][5]. Market Context - The launch comes at a time when the regulatory environment for XRP has improved, allowing for greater potential in utilizing its technology for real-world applications [5]. - The ETF's introduction highlights XRP's significant role in the evolving digital financial ecosystem, providing a new investment avenue for U.S. institutional and retail traders [5].