Ripple CEO Reacts as Bitwise Seeks to Convert Its Multi-Crypto Fund Featuring XRP Into an ETP
Ripple CEO Brad Garlinghouse humorously reacts as NYSE Arca files to list the Bitwise 10 Crypto Index Fund (BITW), which contains multiple crypto assets like XRP and Bitcoin, as an exchange-traded product (ETP).
Yesterday, Bitwise disclosed that NYSE Arca filed a 19b-4 application with the U.S. SEC seeking to list BITW as an ETP. It described the filing as its latest effort to convert the world’s first and largest index fund into an ETP structure.
BITW Features
For context, the Bitwise 10 Crypto Index Fund launched in 2017, featuring the top 10 crypto assets by market capitalization. BITW has grown into a publicly traded fund valued at $1.24 billion. At press time, Bitcoin, Ethereum, Solana, and XRP account for 74.8%, 16.2%, 4.4%,…
