Crypto asset manager Bitwise has filed an initial registration statement with the U.S. SEC for an exchange-traded product for XRP tokens, as it seeks to introduce more crypto products after a landmark regulatory decision to approve spot bitcoin ETF earlier this year.

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 has filed an S-1 with the SEC for an XRP ETF, marking a significant expansion in its crypto offerings.

Bitwise's XRP ETF application was filed on Sept. 30th in the state of Delaware, Fox Business journalist, Eleanor Terrett shared on X late Tuesday.

Key Takeaways Cryptocurrency asset manager Bitwise on Wednesday filed a registration statement with the Securities and Exchange Commission (SEC) to create a spot XRP exchange-traded fund (ETF).Approval of the XRP ETF,

Asset management firm Bitwise filed Form S-1 for XRP ETP with the U.S. Securities and Exchange Commission (SEC) on October 2nd. The filing indicates that once approved, the proposed fund will hold XRP on its own.