Bitwise Asset Management is set to launch its spot XRP exchange-traded fund (ETF) on Thursday, marking a major expansion of institutional access to the cryptocurrency. The fund will trade on NYSE Arca under the ticker “XRP,” positioning Bitwise as the second issuer to enter the market, following the launch of Canary Capital’s XRPC ETF last week.
Bitwise, which oversees roughly $15 billion in assets, has framed the launch as a milestone for both the company and the XRP ecosystem. The ETF becomes effective following the issuer’s Form 8-A and listing certifications with NYSE Arca.
Bitwise has set a 0.34% management fee but plans to waive it for the first month on the first $500 million in assets, offering investors cost-efficient exposure at launch. The fund tracks spot XRP and provides a regulated product for institutions seeking access to XRPL’s native asset.
XRP’s longevity and maturing ecosystem have played a central role in the latest wave of ETF filings. The network has been operational for 13 years and supports a broad base of users, developers, and financial institutions. Its market capitalization stands at roughly $125 billion. In a post on X, Bitwise said its mission is to broaden investor access to “themes shaping the future of crypto,” and views XRP as a key part of that strategy.
Big news: The Bitwise XRP ETF is set to begin trading on NYSE tomorrow with the ticker $XRP.
It has a management fee of 0.34%, which is waived for the first month on the first $500M in assets. This product brings investors spot exposure to XRP, the crypto asset that aims to… pic.twitter.com/0GLR37NnuI
— Bitwise (@BitwiseInvest) November 19, 2025
Grayscale and Franklin Templeton Prepare XRP ETFs
The competitive landscape is tightening. Grayscale has advanced its plan to convert its long-running XRP Trust into a publicly traded ETF. Updated filings indicate that the trust now tracks an updated reference rate and is preparing for potential listing under the ticker symbol “GXRP” on the NYSE Arca.
Grayscale XRP Trust ETF (ticker: $GXRP) is coming. pic.twitter.com/SGIWuRwCMC
— Grayscale (@Grayscale) November 19, 2025
Bloomberg analyst James Seyffart expects Grayscale’s XRP ETF to go live on November 24, alongside a possible launch of the Grayscale Dogecoin ETF. He said the schedule aligns with the company’s broader push to convert its crypto trusts into fully regulated ETFs.
Franklin Templeton is moving on a parallel track. The firm recently filed Form 8-A for its own “Franklin XRP ETF,” which typically signals a launch window is near. Seyffart noted Franklin Templeton could target November 24, which would turn the date into one of the busiest for new XRP ETFs.
The CoinRemark Team
Evans Kelvin
