XRP ETF Launch Could Happen This November After Bitwise SEC Filing

The post XRP ETF Launch Could Happen This November After Bitwise SEC Filing appeared first on Coinpedia Fintech News

The long-awaited XRP exchange-traded fund (ETF) from Bitwise could soon become a reality. Bitwise, the $15 billion asset management giant, has just submitted Amendment No. 4 to its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC), revealing two crucial details.

Experts believe such updates usually signal the final step before approval. If cleared by the SEC, the XRP ETF could go live within just 20 days.

Two Major Updates in Bitwise XRP ETF

On Oct 31, Bitwise filed an Amendment No. 4 with the SEC to update its S-1 form. The latest updated document includes two crucial details: first, the listing venue will be the New York Stock Exchange (NYSE); and second, the management fee will be 0.34%. 

Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing marks a major step forward for XRP’s entry into traditional finance. “Adding the NYSE and fee means Bitwise has checked nearly all boxes.”

Historically, once issuers include exchange and fee details in their S-1 forms, it usually means they’re just waiting for the final green light from the SEC. 

XRP ETF Could Launch in 20 Days

Following the update news, ETF expert James Seyffart of Bloomberg Intelligence added more context to it, noting that Bitwise’s latest filing contains “shorter language” that could allow the product to go live within just 20 days, pending SEC clearance.

Seyffart noted that Bitwise isn’t alone, major players like VanEck, Fidelity, and Canary Funds have also updated their filings, signaling that the race to launch an XRP ETF is heating up fast.

Meanwhile, Crypto America host Eleanor Terrett revealed that Canary Funds removed the “delaying amendment” from its S-1 filing, which gives the SEC control over timing. 

This sets Canary’s XRP ETF up for a launch date of November 13, if the Nasdaq approves its 8-A filing.

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Impact of XRP ETF on Price

After the latest XRP ETF updates, XRP’s price saw a small uptick, trading around $2.51, showing growing optimism among traders.

Analysts say that if the XRP ETF gets approved, it would mark the first-ever U.S. spot ETF for XRP, a historic moment that could push the token toward its all-time high price.

At present, XRP faces strong resistance near the $2.75 level. A breakout above this could open the door for a test of the $3 psychological mark. 

However, if selling pressure continues, XRP might correct by up to 19%, retesting the $2 support zone within its long-term channel pattern.

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FAQs

What is the Bitwise XRP ETF?

The Bitwise XRP ETF is a proposed investment fund tracking XRP’s price, awaiting SEC approval. It would trade on the NYSE, making it easier for traditional investors to gain exposure to the asset.

When will the XRP ETF launch?

The XRP ETF could launch as soon as 20 days after SEC approval. One issuer, Canary Funds, has a potential launch date of November 13, but this is still pending final regulatory and exchange clearance.

How will the XRP price react to an ETF approval

An XRP ETF approval is widely expected to boost the price by increasing demand and institutional legitimacy. This could help it break key resistance levels and challenge its all-time high.

Can retail investors buy the XRP ETF?

Yes, once approved and live, retail investors can buy shares of the XRP ETF through any standard brokerage account, just like a stock, making investment accessible without holding XRP directly.

How to buy the XRP ETF when it goes live?

When the XRP ETF launches, you can purchase it through your usual online broker by searching for its ticker symbol. It will be listed on major exchanges like the NYSE for easy access.

What are the risks of investing in an XRP ETF?

Key risks include XRP’s inherent price volatility, regulatory uncertainty, and market sentiment shifts. An ETF carries fund-specific risks like fees but simplifies exposure compared to direct ownership.