Bitwise registers XRP ETF trust filing in Delaware

Bitwise registers XRP ETF trust filing in Delaware
фото показано с : cryptoslate.com

2024-10-2 00:04

Asset manager Bitwise filed for an XRP exchange-traded fund (ETF) on Sept. 30 with Delaware’s Division of Corporations.

The document consists of a registration for a Delaware statutory trust, a legally recognized trust set up for business.

Bitwise CIO Matt Hougan confirmed the development and told CryptoSlate that more information would be released in the coming days.

The most infamous example is the Grayscale Bitcoin Trust, which was turned into an ETF in January this year. Notably, Grayscale introduced an XRP trust on Sept. 12. The XRP-related movements follow the end of a four-year-long dispute between XRP’s issuer, Ripple Labs, and the US Securities and Exchange Commission (SEC).

Ripple was fined $125 million as a result of the SEC’s partial win in a motion for remedies.

However, District Judge Analisa Torres from the District Court of the Southern District of New York did not consider XRP offerings to retail as selling of unregistered securities.

Despite the positive development, XRP price is still following the broad market movement and sits at $0.6117 at the time of writing, down by 2.6% over the past 24 hours as per CryptoSlate data.

Difficult task ahead

Approving a new crypto-related ETF that isn’t tied to Bitcoin (BTC) or Ethereum (ETH) might be a difficult task.

Nate Geraci, CEO of The ETF Store, stated on Sept. 12 that receiving a green light from the SEC for XRP ETF trading would need political help.

On a similar tone, Bloomberg senior ETF analyst Eric Balchunas claimed that the chance of a Solana ETF being approved in the US is equal to “a snowball’s chance in hell.”

Balchunas’ remarks came after asset managers VanEck and 21Shares filed for Solana ETFs in late July, four days following the first spot Ethereum ETFs started trading in the US.

Furthermore, despite recently reiterating that Bitcoin is a commodity, SEC Chairman Gary Gensler refused to state what tokens can be considered securities in a Sept. 24 Congress hearing. The outcome of the Solana ETFs and the potential XRP ETFs under the SEC’s current leadership is still unclear.

The post Bitwise registers XRP ETF trust filing in Delaware appeared first on CryptoSlate.

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delaware trust bitwise xrp etf consists document

Источник: cryptoslate.com

delaware trust → Результатов: 37


Grayscale establishes funds trust, files for three new crypto funds

Grayscale Investments announced on May 9 that it has formed a new entity called Grayscale Funds Trust and filed for three new crypto investment funds. Grayscale proposes three new ETFs The Grayscale Funds Trust will act as a Delaware statutory trust structure that allows the firm to manage its older products while also pursuing exchange-traded […] The post Grayscale establishes funds trust, files for three new crypto funds appeared first on CryptoSlate.

2023-5-10 03:18


У Grayscale может появиться траст на базе yEarn.Finance

Крупнейший управляющий криптовалютными активами Grayscale Investments потенциально может запустить траст на базе токена DeFi-проекта yEarn. Finance. Инвестиционный продукт зарегистрировал доверенный представитель фирмы —Delaware Trust Company (DTC).

2021-2-12 11:24


Grayscale зарегистрировала траст для yEarn.Finance. Монета подорожала до $46 000

Крупнейший управляющий криптовалютными активами Grayscale Investments потенциально может запустить траст на базе токена DeFi-проекта yEarn. Finance. Инвестиционный продукт зарегистрировал доверенный представитель фирмы —Delaware Trust Company (DTC).

2021-2-12 09:57


Grayscale подтверждает регистрацию трастов для ChainLink и Tezos

Инвесткомпания Grayscale подтвердила, что недавно действительно зарегистрировала трасты для альткоинов Chainlink (LINK) и Tezos (XTZ). Трасты были сформированы при прямом участии компании Delaware Trust Company, сообщает The Block.

2021-2-6 15:01


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