Ripple will invest in Bitwise's XRP ETP product

2024-11-27 12:20:24

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According to the news from TechFlow on November 27th, Bitwise, an encryption asset management company, announced that it will rename its European XRP ETP product from “ETC Group Physical XRP” to “Bitwise Physical XRP ETP”, while keeping the trading code “GXRP” unchanged. Ripple will make a strategic investment in the product, and the specific amount has not been disclosed.

Bitwise acquired ETC Group, an encryption investment company with assets under management of $1 billion in August this year. The product line includes BTC ETP (BTCE), stake-supported ETH blockchain (ET32), Solana (ESOL), MSCI digital asset selection 20 (DA20), and GXRP. The company has stated that the total assets under management currently exceed $10 billion and plans to launch more institutional-grade encryption ETP products.

XRP0,04%

ETC-0,03%

BTC0,09%

ETH0,37%

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