XRP ETF from Bitwise starts trading on NYSE with initial fee waiver

Bitwise Asset Management's spot XRP ETF, trading under the ticker XRP on the NYSE, commenced trading after clearing necessary certifications. The fund carries a 0.34% management fee, which Bitwise is waiving for the first month on the initial $500 million in assets. The ETF launched with approximately $2.3 million in assets from seed capital. This new product offers US investors spot exposure to XRP, which powers the XRP Ledger, an established blockchain known for low-cost, rapid settlement. Bitwise executives, including CEO Hunter Horsley and CIO Matt Hougan, expressed optimism, noting XRP's potential to reshape global cross-border value transfer and its current regulatory standing alongside other digital assets.

(Source：Crypto Briefing)