Ripple 
$0.597318 CEO Brad Garlinghouse said he anticipates that once Bitwise files its S-1 form for the Bitwise XRP ETF, other asset managers may also apply to offer an XRP ETF. Ripple CEO emphasized that this development is important for the adoption of XRP, especially within traditional finance (TradFi).
Ripple CEO: New Things Will Come
Brad Garlinghouse noted that Bitwise’s filing of the S-1 form for the Bitwise XRP ETF is just the beginning. That’s why Ripple’s CEO expects other asset managers to apply to offer an XRP ETF like Bitwise. However, in their recent statements, BlackRock officials said that their customers did not have a serious demand for altcoins other than ETH and that they may not apply for different crypto ETFs for a long time.
Garlinghouse stated that the application for XRP is extremely important. Spot Bitcoin earlier in the year. 
$61,635 and then Ethereum 
$2,471 He said his ETFs were approved. In May of this year, he said that the XRP ETF was inevitable and would eventually become a reality. Recalling Analisa Torres’ declaration that XRP is not a security in itself, Garlinghouse seems confident in this regard.
Bitwise Files Form S-1 for XRP
Bitwise has filed an S-1 form with the US Securities and Exchange Commission (SEC) for the Bitwise XRP ETF. This fund will directly hold XRP and offer institutional investors the opportunity to invest in the crypto token. The launch of the Bitwise XRP ETF is contingent on the SEC accepting the application and approval of the 19b-4 filing.
Bitwise CEO Hunter Horsley made the following statements about this development:
At Bitwise, we believe blockchains will usher in new, policy-free money and permissionless applications for the 21st century.
Horsley added:
We have provided investors with access to opportunities in this space for the past seven years, and we are excited to continue this work with our Bitwise XRP ETP application.
Bitwise’s S-1 filing is also important for Ripple’s CEO and his company. Institutional investors will be encouraged to see that XRP is now considered a commodity and not a security. However, approval of the Bitwise XRP ETF and other potential applications will depend on whether the SEC adopts this view.
The latest move could mark wider acceptance of XRP in traditional financial markets. Acceptance of XRP as a commodity could attract institutional investors to invest more in this cryptocurrency. For investors, approval of XRP ETFs could facilitate their access to digital assets and contribute to market maturation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
