(Reuters) – Crypto asset supervisor Bitwise has filed an preliminary registration assertion with the U.S. SEC for an exchange-traded product for tokens, because it seeks to introduce extra crypto merchandise after a landmark regulatory resolution to approve spot bitcoin ETF earlier this 12 months.
Bitwise earlier this 12 months was among the many companies which received the nod from the Securities and Trade Fee for his or her bitcoin ETFs. The approval got here after a decade-long tussle between the digital asset business and the SEC, which had rejected the merchandise on account of market manipulation considerations.
XRP is a digital token that powers the XRP Ledger (XRPL) public blockchain. XRPL is finest recognized for its position in facilitating cross-border funds and remittances.
The token has a market worth of above $30 billion, Bitwise mentioned.
Trade-traded product is a repeatedly priced safety that trades on a inventory alternate. It tracks underlying safety, forex or an asset. These are just like shares and could be purchased and offered throughout the day.
