- Bitwise begins rebranding of European product suite, renames bodily XRP ETP
- Ripple proclaims plans to speculate in Bitwise Bodily XRP ETP
November 27, 2024. Frankfurt, Germany: Bitwise Asset Management introduced at present that it has renamed its European XRP exchange-traded product (Ticker GXRP; ISIN DE000A3GYNB0) as a part of a broader rebranding of its European product suite. Along with the information, Ripple, a number one supplier of digital asset infrastructure, has introduced that it’s going to make investments in the product—the Bitwise Bodily XRP ETP (previously ETC Group Bodily XRP).
XRP, the world’s fifth-largest crypto asset at a market cap of over $80 billion, has skilled a surge in recognition because of the increasing use circumstances on the XRP Ledger (XRPL) significantly in areas like cross-border remittances, institutional DeFi, and actual world tokenization. The XRPL is thought for its velocity, effectivity, and reliability, that are vital options for the various monetary companies corporations that put it to use in their companies.
European buyers can achieve publicity to XRP via GXRP, the 100% bodily backed ETP launched by Bitwise (previously ETC Group) in 2022 issued underneath a prospectus accredited by Germany’s monetary regulator.
Hunter Horsley, CEO and Co-Founder at Bitwise: “XRP and the XRP Ledger are among the many most acquainted and trusted blockchains in crypto. XRPL is exclusive with over 10 years of monitor report in reliability, whereas persevering with to broaden in capabilities. We’re thrilled to be offering entry for buyers via an institutional high quality product with the Bitwise Bodily XRP ETP (GXRP).”
Brad Garlinghouse, CEO at Ripple: “World demand for publicity to the crypto asset class has exploded in 2024, fueled by a rising curiosity in crypto-backed funding choices. With the U.S. regulatory atmosphere for crypto lastly changing into extra clear, this development is poised to speed up, additional driving demand for crypto ETPs, such because the Bitwise Bodily XRP ETP. As one of the vital priceless, liquid, and utility-driven digital property, XRP is on the forefront of this momentum, standing out as a cornerstone for these searching for entry to property which might be resilient and have real-world utility.”
Bitwise has seen important progress in 2024, lately crossing over $10B in complete shopper property. The agency acquired main European ETP issuer, ETC Group in August, and is about to rebrand its European ETP portfolio whereas strategically increasing its operation in Europe. Bitwise plans to launch further institutional-grade crypto ETPs, together with the Bitwise Aptos Staking ETP which started buying and selling on the SIX Swiss Trade on 19 November 2024, and a submitting of a Kind S-1 for an XRP spot ETF in the US.
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Key Product Particulars
| ETP Title | Bitwise Bodily XRP ETP |
| Major Ticker | GXRP |
| ISIN | DE000A3GYNB0 |
| WKN | A3GYNB |
| TER | 1.95% p.a. |
Extra details about the product is supplied on the respective product page.
The total Bitwise product record together with all trade listings and buying and selling info is offered at https://etc-group.com/products/.
About Bitwise
Bitwise is among the world’s main crypto specialist asset managers. 1000’s of monetary advisors, household workplaces, and institutional buyers throughout the globe have partnered with us to grasp and entry the alternatives in crypto. Since 2017, Bitwise has established a monitor report of excellence managing a broad suite of index and lively options throughout ETPs, individually managed accounts, non-public funds, and hedge fund methods – spanning each the U.S. and Europe.
In Europe, for the previous 4 years Bitwise (previously ETC Group) has developed an intensive and progressive suite of crypto ETPs, together with Europe’s largest and most liquid bitcoin ETP, or the primary diversified Crypto Basket ETP replicating an MSCI digital property index.
This household of crypto ETPs is domiciled in Germany and accredited by BaFin. We solely companion with respected entities from the standard monetary business, making certain that 100% of the property are securely saved offline (chilly storage) via regulated custodians.
Our European merchandise comprise a group of rigorously designed monetary devices that seamlessly combine into any skilled portfolio, offering complete publicity to crypto as an asset class. Entry is easy through main European inventory exchanges, with major listings on Xetra, essentially the most liquid trade for ETF buying and selling in Europe. Retail buyers profit from easy accessibility via quite a few DIY/on-line brokers, coupled with our sturdy and safe bodily ETP construction, which features a redemption characteristic. For extra info, go to www.bitwiseinvestments.com/eu
Media contacts:
JEA Associates
John McLeod
00 44 7886 920436
john@jeaassociates.com
Necessary info
This press launch doesn’t represent funding recommendation, nor does it represent a proposal or solicitation to purchase monetary merchandise. This press launch is issued by Bitwise Europe GmbH (“BEU”), a restricted firm domiciled in Germany, for info solely and in accordance with all relevant legal guidelines and rules. BEU provides no specific or implicit assurance or assure relating to the equity, accuracy, completeness, or correctness of this text or the opinions contained therein. It’s suggested to not depend on the equity, accuracy, completeness, or correctness of this text or the opinions contained therein. Please observe that this text is neither funding recommendation nor a proposal or solicitation to accumulate monetary merchandise or cryptocurrencies.
Earlier than investing in crypto Trade Traded Merchandise (“ETPs”), potential buyers ought to think about the next:
Potential buyers ought to search unbiased recommendation and think about related info contained in the bottom prospectus and the ultimate phrases for the ETPs, particularly the danger elements. ETPs issued by BEU are appropriate just for individuals skilled in investing in cryptocurrencies and dangers of investing might be discovered in the prospectus and last phrases accessible on www.etc-group.com. The invested capital is in danger, and losses as much as the quantity invested are attainable. ETPs backed by cryptocurrencies are extremely unstable property and efficiency is unpredictable. Previous efficiency will not be a dependable indicator of future efficiency. The market value of ETPs will differ and they don’t supply a hard and fast revenue or match exactly the efficiency of the underlying cryptocurrency. Investing in ETPs includes quite a few dangers together with basic market dangers regarding underlying, opposed value actions, foreign money, liquidity, operational, authorized and regulatory dangers.
