The Bitwise XRP ETF (Ticker: XRP) Launches on NYSE, Providing Exposure to the Platform Aiming To Modernize Global Payments
Bitwise XRP ETF (NYSE:XRP) launches on NYSE, with trading to begin on November 20, 2025. The Fund holds spot XRP, described as the world’s third-largest crypto asset with a market cap of >$120 billion and a 13-year track record. Bitwise, which manages >$15 billion in client assets, set the Fund's management fee at 0.34%, waived for the first month on the first $500M in assets. The XRP Ledger is cited as having processed >4 billion transactions, average daily volume of $1.9 billion, and settlement times of 3–5 seconds. The Fund is not registered under the 1940 Act and carries high volatility and loss risk.
Bitwise XRP ETF (NYSE:XRP) debutta sul NYSE, con l'inizio delle contrattazioni il 20 novembre 2025. Il Fondo detiene XRP spot, descritto come la terza più grande criptovaluta al mondo con una capitalizzazione di mercato superiore a 120 miliardi di dollari e una storia di 13 anni. Bitwise, che gestisce oltre 15 miliardi di dollari in attivi dei clienti, ha fissato la commissione di gestione del Fondo al 0,34%, esentata per il primo mese sui primi 500 milioni di dollari di attività. Il XRP Ledger è citato per aver processato oltre 4 miliardi di transazioni, un volume medio giornaliero di 1,9 miliardi di dollari e tempi di regolamento di 3–5 secondi. Il Fondo non è registrato ai sensi del 1940 Act e comporta elevata volatilità e rischio di perdita.
Bitwise XRP ETF (NYSE:XRP) se lanza en el NYSE, con operaciones que comienzan el 20 de noviembre de 2025. El Fondo mantiene XRP al contado, descrito como el tercer activo criptográfico más grande del mundo con una capitalización de mercado de más de 120 mil millones de dólares y una trayectoria de 13 años. Bitwise, que gestiona más de 15 mil millones de dólares en activos de clientes, fijó la comisión de gestión del Fondo en 0,34%, exenta durante el primer mes sobre los primeros 500 millones de dólares en activos. El XRP Ledger se cita como habiendo procesado más de 4 mil millones de transacciones, un volumen diario promedio de 1,9 mil millones de dólares y tiempos de liquidación de 3–5 segundos. El Fondo no está registrado bajo la 1940 Act y conlleva alta volatilidad y riesgo de pérdida.
Bitwise XRP ETF (NYSE:XRP)가 NYSE에서 출시되며, 거래는 2025년 11월 20일에 시작됩니다. 이 펀드르는 현물 XRP를 보유하고 있으며, 시가총액이 1200억 달러를 넘고 13년의 실적을 가진 세계에서 세 번째로 큰 암호자산으로 설명됩니다. 자문사는 고객 자산 150억 달러 이상을 관리하는 Bitwise가 펀드의 관리보수를 0.34%로 설정했으며, 자산 상위 5억 달러에 한해 첫 달은 면제됩니다. XRP Ledger는 40억 건이 넘는 거래를 처리했고, 일평균 거래량은 19억 달러이며 정산 시간은 3–5초입니다. 이 펀드는 1940 Act에 따라 등록되지 않았으며 높은 변동성과 손실 위험을 수반합니다.
Bitwise XRP ETF (NYSE:XRP) est lancé sur le NYSE, les échanges commenceront le 20 novembre 2025. Le Fonds détient du XRP au comptant, décrit comme le troisième actif cryptographique mondial par capitalisation de marché (>120 milliards de dollars) et avec une feuille de route de 13 ans. Bitwise, qui gère plus de 15 milliards de dollars d'actifs de clients, a fixé les frais de gestion du Fonds à 0,34%, exonérés pendant le premier mois sur les premiers 500 millions de dollars d'actifs. Le XRP Ledger est cité pour avoir traité plus de 4 milliards de transactions, un volume moyen quotidien de 1,9 milliard de dollars et des temps de règlement de 3–5 secondes. Le Fonds n’est pas enregistré en vertu du 1940 Act et comporte une volatilité élevée et un risque de perte.
Bitwise XRP ETF (NYSE:XRP) startet am NYSE, mit dem Handel ab dem 20. November 2025. Der Fonds enthält Spot-XRP, beschrieben als das weltweit drittgrößte Krypto-Asset mit einer Marktkapitalisierung von über 120 Milliarden USD und einer 13-jährigen Erfolgsbilanz. Bitwise, das mehr als 15 Milliarden USD an Kundengeldern verwaltet, setzte die Managementgebühr des Fonds auf 0,34%, im ersten Monat für die ersten 500 Mio. USD an Vermögenswerten erlassen. Das XRP Ledger soll mehr als 4 Milliarden Transaktionen verarbeitet haben, ein durchschnittliches tägliches Handelsvolumen von 1,9 Milliarden USD und Abwicklungzeiten von 3–5 Sekunden. Der Fonds ist nicht unter dem 1940 Act registriert und trägt ein hohes Volatilitäts- und Verlustrisiko.
صندوق Bitwise XRP ETF (NYSE:XRP) يُطلق في بورصة نيويورك، مع بدء التداول في 20 نوفمبر 2025. يحتفظ الصندوق XRP فوراً، وهو يوصف بأنه ثاني أكبر أصل تشفيري من حيث القيمة السوقية يتجاوز 120 مليار دولار ولديه سجل يمد 13 عاماً. Bitwise، الذي يدير أكثر من 15 مليار دولار من أموال العملاء، حدّد رسوم إدارة الصندوق عند 0.34%, مع إعفاء لأول شهر على أول 500 مليون دولار من الأصول. XRP Ledger منسوب إليه أنه عالج أكثر من 4 مليارات معاملة، ومتوسط حجم يومي قدره 1.9 مليار دولار، وأزمنة التسوية 3–5 ثوان. الصندوق غير مُسجّل بموجب 1940 Act وهو يحمل تقلباً عالياً ومخاطر خسارة.
- Fund trading begins Nov 20, 2025
- Management fee 0.34% (waived first month on $500M)
- Holds spot XRP with market cap >$120B
- Bitwise manages >$15B in client assets
- Fund is not registered under the 1940 Act
- Fund subject to high volatility and potential total loss
Insights
Bitwise launched a spot XRP ETF on NYSE, expanding U.S. access to XRP and adding a regulated trading wrapper.
The Fund will begin trading on
Key mechanics to watch: the management fee of
The ETF provides regulated access but carries elevated crypto-specific risks and limited 1940 Act protections.
The Fund is not registered under the Investment Company Act of 1940 and therefore lacks the same investor protections as 1940 Act ETFs; the disclosure highlights high volatility and the possibility of significant or total loss. The Fund holds spot XRP and clarifies that it is not equivalent to direct ownership of the XRP token.
Critical dependencies include custody safeguards, operational controls for settlement on the XRP Ledger (which the release notes averages 3–5 second settlement and >4 billion transactions), and the waiver structure for the first month. Watch regulatory filings and the Fund's custodial disclosures over the next 60–120 days to assess operational risk and governance.
Fund provides exposure to the third-largest crypto asset, known for its 13-year track record and goal of disrupting the
The Bitwise XRP ETF will hold spot XRP, the world's third-largest crypto asset with a market cap of over
The Bitwise XRP ETF (the "Fund") is not suitable for all investors. An investment in the Fund is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. The Fund is not an investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and therefore is not subject to the same protections as ETFs and mutual funds registered under the 1940 Act. An investment in the Fund is not the same as a direct investment in the XRPtoken ("XRP").
"XRP is a really intriguing asset for several reasons," said Bitwise CIO Matt Hougan. "It has operated successfully for a very long period of time at extremely low cost, it processes high transaction volumes, and it has a really strong and vibrant community of supporters. In the new crypto-forward regulatory regime, XRP stands on an equal playing field with other digital assets. Now the market will have the opportunity to see what XRP can really do."
The Bitwise XRP ETF is Bitwise's second XRP-themed fund. The firm launched the Bitwise Physical XRP ETP (ticker: GXRP) in
"In 2025, we're watching digital assets take on real utility in the global economy," said Bitwise CEO Hunter Horsley, "whether that's powering payments, building infrastructure, or earning a permanent role in diversified portfolios. With today's launch of the Bitwise XRP ETF, we're excited to help investors gain exposure to an asset that has the potential to fundamentally reshape how money moves worldwide."
The XRP Ledger is designed to empower businesses to tokenize and transact assets, ranging from
The Bitwise XRP ETF is the 49th investment product to join Bitwise's extensive suite of crypto portfolio offerings across the
About Bitwise
Bitwise Asset Management is a global crypto asset manager with more than
Notes
(1) Brokerage fees may apply.
(2) Tokenization is the process of representing ownership rights or value of a real-world asset
(like real estate, bonds, or company shares) as a digital token on a blockchain.
(3) Source: Dune Analytics, CoinGecko as of November 19, 2025.
(4) Source: BCG.
Risks and Important Information
This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bitxrpetf.com/welcome.
The amount of XRP tokens ("XRP") represented by a Share will continue to be reduced during the life of the Fund due to the transfer of the Fund's XRP to pay for the Sponsor's management fee, and to pay for litigation expenses or other extraordinary expenses. This dynamic will occur irrespective of whether the trading price of the Shares rises or falls in response to changes in the price of XRP.
There is no guarantee or assurance that the Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products.
Investors may choose to use the Fund as a means of investing indirectly in XRP. Because the value of the Shares is correlated with the value of XRP held by the Fund, it is important to understand the investment attributes of, and the market for, XRP.
XRP Risk. There are significant risks and hazards inherent in the XRP market that may cause the price of XRP to fluctuate widely. The Fund's XRP may be subject to loss, damage, theft or restriction on access. Investors considering a purchase of Shares should carefully consider how much of their total assets should be exposed to the XRP market, and should fully understand, be willing to assume, and have the financial resources necessary to withstand the risks involved in the Fund's investment strategy.
Liquidity Risk. The market for XRP is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.
Regulatory Risk. Future and current regulations by a
Blockchain Technology Risk. Certain of the Fund's investments may be subject to the risks associated with investing in blockchain technology. The risks associated with blockchain technology may not fully emerge until the technology is widely used. Blockchain systems could be vulnerable to fraud, particularly if a significant minority of participants colluded to defraud the rest. Because blockchain technology systems may operate across many national boundaries and regulatory jurisdictions, it is possible that blockchain technology may be subject to widespread and inconsistent regulation.
Nondiversification Risk. The Fund is nondiversified and will hold a single issue. As a result, a decline in the market value of a particular issue held by the Fund may affect the Fund's value more than if it invested in a larger number of issuers.
Recency Risk. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision. If the Fund is not profitable, the Fund may terminate and liquidate at a time that is disadvantageous to Shareholders.
The XRP Ledger differentiates itself from other digital asset networks in that its stated primary function is transactional utility, not store of value. Today, there is limited use of XRP in the retail, commercial, or payments spaces, and, on a relative basis, speculators make up a significant portion of users. The significant holdings of XRP by Ripple Labs and other early stakeholders could have an adverse effect on the market price of XRP.
Bitwise Investment Advisers, LLC serves as the sponsor of the Fund. Foreside Fund Services, LLC serves as the Marketing Agent for the Fund, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise, or any of its affiliates.
Media Contact:
Tova Kaufmann
pr@bitwiseinvestments.com
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SOURCE Bitwise Asset Management
FAQ
When will the Bitwise XRP ETF (XRP) begin trading on NYSE?
What is the Bitwise XRP ETF management fee and are any waivers offered?
Does the Bitwise XRP ETF (XRP) hold physical XRP and what is XRP's market cap?
How liquid and fast is the XRP Ledger according to the announcement?
Is an investment in the Bitwise XRP ETF (XRP) equivalent to holding XRP directly?
What investor protections apply to the Bitwise XRP ETF (XRP)?
