Wall Street’s ETF disruptors are once again pushing regulators to open up the crypto boom to the masses after Bitwise Asset Management Inc. became the first to file for a fund that invests directly in XRP,

Bitwise, already an issuer of spot Bitcoin and spot Ethereum ETFs, filed for an $XRP ETF, triggering excitement in the crypto community and marking the first step in what Ripple CEO Brad Garlinghouse previously predicted was an "inevitable" wave of crypto ETFs.

Bitwise's filing acknowledges the risk that the Securities and Exchange Commission (SEC) could win an appeal to reverse a court decision that would allow it to regulate XRP as a security.