Ripple CEO Brad Garlinghouse has taken to X to touch upon Bitwise’s latest ETF submitting that features publicity to the XRP token. “XRP, BTC, ETH, SOL — that is the alphabet soup I wish to see,” Garlinghouse stated in his social media put up.
On Thursday, Bitwise introduced its intention to transform the Bitwise 10 Crypto Index Fund (BITW) into an ETF.
Other than the cryptocurrencies talked about by Garlinghouse, the publicly traded belief additionally consists of Cardano (ADA), Avalanche (AVAX), Bitcoin Money (BCH), Chainlink (LINK), Polkadot (DOT) and Uniswap (UNI). Nonetheless, all of those tokens represent solely a wise a part of the belief (2.7%). XRP itself has a 1.6% weighting.
Final month, Grayscale, the main cryptocurrency asset supervisor, additionally filed for a combo crypto ETF that included publicity to the XRP token.
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As reported by U.Right now, ETF analyst Eric Balchunas opined that there was some room to maneuver with regards to illiquid property corresponding to XRP.
Other than the multi-coin ETF functions that embody XRP publicity, there are additionally particular person XRP filings from such issuers as 21Shares, Bitwise and Canary Capital.
XRP hits new 2024 excessive
In the meantime, XRP is at present stealing the highlight with one more spectacular rally.
Earlier this Friday, it reached a brand new 2024 excessive of $0.88, surging by greater than 20% inside a single day. XRP ha already rallied by greater than 60% throughout this November alone.
That stated, there are some indicators that the rally is likely to be getting overheated. In response to 100eyes Crypto Scanner, there’s bearish divergence on XRP’s four-hour chart.