SEC Notice of Effectiveness for Bitwise XRP ETF
The SEC has recently issued a Notice of Effectiveness concerning the Bitwise XRP ETF, identified by registration number 333-282465, affirming its effectiveness as of September 28. On the same day, Bitwise submitted a final 424B3 prospectus to formalize this update.
Clarification on ETF Approval
However, it’s crucial to clarify that this announcement does not signify a new approval for an XRP ETF; rather, the Bitwise product has been actively trading on NYSE Arca under the ticker symbol XRP since November 19, 2025.
Previous Filings and Market Reaction
This filing follows an earlier Post-Effective Amendment No. 2 submitted by Bitwise on September 18, which at that time was merely a preliminary prospectus. This previous filing warned that shares could not be sold under the registration until the amendment was effective, generating substantial interest in the market. Coincidentally, this moment aligned with a notable rally of XRP, which surged 7.7%, leading to some misconceptions about a potential new ETF approval.
Fund Structure and Management
In essence, the recent prospectus maintains the original fund structure that directly holds XRP, utilizes Coinbase Custody for asset security, and relies on BNY Mellon for key administrative tasks. The fund’s annual expense ratio remains at 0.34%, consistent with previously disclosed information regarding its custody and fee arrangements.
Conclusion
This latest SEC notice serves purely as an update to the registration status of the existing ETF rather than introducing a brand-new product or signaling additional exchange-listing authorization. This clarification is vital as XRP ETFs continue to draw increasing interest from institutional investors, with U.S.-based funds recently accumulating over 1 billion XRP in total holdings.
