Bitwise Asset Management has confirmed that its new spot XRP exchange-traded fund will launch on Thursday when markets open, trading under the ticker “XRP.” The ETF will be listed on the New York Stock Exchange, a move that immediately drew both excitement and concern from the crypto community.
Many X users applauded Bitwise for securing the ticker but also pointed out that using “XRP” could cause confusion, given that it is the same symbol used for the underlying token. Traditionally, crypto ETFs use a combination of the asset manager’s branding and the digital asset name—such as Fidelity’s FBTC, ARK Invest’s ARKB, Bitwise’s BSOL, or BlackRock’s ETHA.
Ticker Choice Sparks Debate
Several users questioned how Bitwise obtained approval for the ticker. One user, Krippenreiter, noted that the identical ticker might require ongoing clarification between XRP the asset and XRP the ETF. Another user asked how regulators allowed such a potentially confusing symbol, comparing it to the hypothetical idea of an ETF using the ticker BTC.
Some community members, however, praised the branding, arguing that the ticker’s direct link to the asset could strengthen recognition. Software engineer Vincent Van Code suggested the choice may reflect a longer-term strategy, where the native XRP token supports wholesale use cases while most retail traders engage through the ETF.
Bitwise Expands Its XRP Offerings
Bitwise originally filed for its spot XRP ETF with the U.S. Securities and Exchange Commission in October 2024. The company also launched the Bitwise Physical XRP ETP (GXRP) in Europe in 2022.
Chief investment officer Matt Hougan described XRP as a compelling asset due to its long operational history, low costs, and strong transaction capacity. He added that under the new U.S. regulatory framework, XRP now competes on equal footing with other digital assets.
More XRP ETFs on the Way
The XRP ETF from Bitwise arrives shortly after Canary Capital’s XRPC ETF, which debuted on November 13 and attracted over $250 million in first-day inflows.
Bloomberg ETF analyst James Seyffart expects even more launches soon, predicting that Grayscale and Franklin Templeton may release their XRP ETFs on November 24. Bitwise’s Hougan said he anticipates over 100 new crypto-related ETFs to hit the market following the end of the U.S. government shutdown.
