The market is still adjusting to the launch of Bitwise’s Spot XRP ETF on the New York Stock Exchange, a listing that marks a significant step forward for institutional access to the asset. Bitwise’s product now sits alongside Canary’s XRPC ETF on the NASDAQ, making it the second US-based Spot XRP ETF to go live.
The arrival of a second fully regulated product is being viewed as an early sign that the XRP ETF surrounding is just beginning to take shape. It also signals that issuers are becoming more confident in the regulatory footing surrounding XRP, especially after years of uncertainty.
Ripple CEO’s message was a mix of congratulations for Bitwise and a hint that more activity may follow, and this is only the start of a much larger movement in the XRP investment landscape. “The pre-thanksgiving rush (shall we say, ‘turkey trot’!?) for XRP ETFs starts now,” he said.
So far, the token has not responded with the kind of explosive rally that some expected around the ETF launches. Price action is somewhat restrained, having broken below the $2 price level despite the new investment access points.
