TLDR
- Bitwise is set to launch its XRP ETF tomorrow, with its listing now visible on the Bloomberg terminal.
- Grayscale has amended its XRP Trust filings to transition into a spot XRP ETF, targeting a November 24 launch.
- Franklin Templeton is also preparing to launch its XRP ETF on November 24, following the same steps as Bitwise and Grayscale.
- The synchronized launch schedule of these ETFs marks a rapid expansion in the regulated crypto investment market.
- Bitwise XRP ETF includes key identifiers for integration across institutional trading systems, confirming its imminent debut.
Bitwise is set to launch its XRP ETF tomorrow, according to Bloomberg analyst James Seyffart. The new development follows a wave of activity from several issuers, including Grayscale and Franklin Templeton, who are also preparing for launches on November 24. These coordinated efforts signal a rapidly expanding market for regulated crypto investment products.
Seyffart confirmed that Bitwise’s XRP ETF is now listed on the Bloomberg terminal. The fund is identified by the Elite ticker XRP, and its listing appears shortly before an ETF debut. This timing suggests that Bitwise is in the final stages before the product becomes available for investors.
The listing of the Bitwise XRP ETF includes essential identifiers that integrate across institutional trading systems. Seyffart’s update supports expectations that the ETF will launch as planned tomorrow. This final step indicates that the fund’s launch is imminent, in line with current market trends.
Grayscale’s XRP ETF Nears Launch on November 24
Grayscale is also nearing the launch of its XRP ETF. The company recently amended its XRP Trust filings to facilitate a switch to a spot ETF. This change is designed to provide investors with direct exposure to XRP, bypassing the earlier reference-rate-based model.
Grayscale revealed that its XRP Trust ETF, GXRP, is expected to launch on November 24. The firm has also updated its reference-rate provider, which impacts how the product’s value is calculated. These amendments point to a fully operational product ready for its anticipated debut.
Seyffart also noted that Grayscale’s upcoming Dogecoin ETF will launch on the same date. The company appears to be synchronizing the release of both products for maximum market impact. This coordinated timeline further emphasizes the industry’s shift towards regulated crypto ETFs.
XRP ETF Market Grows with Franklin Templeton
Franklin Templeton is also in the process of launching an XRP ETF. Recent filings suggest that the fund could go live on November 24, along with the Grayscale ETF. This development comes after procedural updates that indicate the company is in the final stages of preparation.
While the precise timing for Franklin Templeton’s XRP ETF remains uncertain, its filings reflect substantial progress. Analysts have pointed out that the company is following a similar timeline to other issuers in the market. The potential launch could align with the releases from Bitwise and Grayscale.
Seyffart recently mentioned that Franklin Templeton’s filing does not support an earlier launch date, such as November 18. This reinforces the expectation that the company will follow the same schedule as other key players. The XRP ETF market is rapidly gaining traction, with several major firms poised to enter the space.
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Source: https://blockonomi.com/bitwise-xrp-etf-set-for-launch-tomorrow-joins-grayscale-and-franklin/