After Bitcoin exchange-traded products and Ethereum ETFs, asset managers are making moves to introduce altcoin in the traditional financial markets. 

A recent filing by the Bitwise XRP ETF hinted a new exchange-traded product based on the XRP’s price may be introduced soon in the market once it receives approval from the authorities. 

Bitwise registered an XRP ETF on September 30, with CSC Delaware Trust Company listed as the agent. This registration took place in Delaware, but it doesn’t necessarily mean that an application with the United States Securities and Exchange Commission (SEC) is coming soon. The formal SEC filing process could take several months.

The last time a fake report about BlackRock filing an XRP ETF application was shared across the crypto X space, it caused a surge of over 12% in XRP’s prices. 

Fortunately, several analysts, including Eric Balchunas, a senior ETF analyst at Bloomberg, confirmed that the report was false, leading to a subsequent fall in XRP’s price from the fake pump.

With a report of the XRP ETF application being shared across several social media channels, Balchunas has once again affirmed that the filling is “legit” after checking with the Bitwise team.  

The recent news of Bitwise XRP ETF filing happened after the dreadfully long SEC vs. Ripple battle where the regulator called XRP a “security” back in 2022. 

After months of debates, nitpicking, and constant rebuttals, Judge Analisa Torres ruled that XRP is not a security when sold on public exchanges. This partial victory was heavily celebrated by Ripple’s fans, unofficially known as the “XRP Army,” despite it being only a partial win.

Despite Bitwise filing for an XRP ETF application, the price of Ripple’s native token is trading at $0.5871 and still continues to face a fall of 6.55% over the one day period.