As per Cryptonewsland, Bitwise launched an XRP ETF following the resolution of the SEC lawsuit against Ripple. The ETF provides institutional investors with a compliant way to access XRP. The ETF saw $25.7 million in trading volume on its first day. Matt Hougan, Bitwise’s CIO, stated that the lawsuit had hindered XRP’s adoption and that its conclusion allows the asset to compete on a more level playing field. Hougan described XRP as a 'Lindy asset' with a long history and strong community. Bitwise reserved the ETF ticker in advance and launched it as soon as regulatory conditions allowed. The ETF’s success indicates rising institutional interest in XRP.
Bitwise Launches XRP ETF Amid SEC Lawsuit Resolution
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