Bitwise Revamps XRP ETP in Europe as Ripple Eyes Major Investment

Bitwise Asset Management has rebranded the European XRP exchange-traded product (ETP) to the Bitwise Physical XRP ETP. Previously known as the ETC Group Physical XRP, this move follows Bitwise’s acquisition of ETC Group, a key player in European ETPs. 

A Gateway to Institutional Crypto Investment

The Bitwise Physical XRP ETP, traded under the ticker GXRP, offers regulated access to XRP. European investors can now explore XRP without dealing directly with digital assets. German regulators oversee the ETP, ensuring transparency and security for both institutional and retail investors.

XRP, currently valued at over $80 billion, is a major force in cross-border payments and tokenized assets. The XRP Ledger, praised for reliability and speed, has become a trusted blockchain over the past decade. 

Hunter Horsley, CEO of Bitwise, called XRP one of the most reliable assets in the crypto space. He highlighted the product as an institutional-grade investment designed to meet growing demand. Also, Ripple’s CEO, Brad Garlinghouse, emphasized the rising global appetite for crypto-backed products. 

Ripple and Bitwise Focus on Global Expansion

Ripple’s planned investment aims to expand XRP’s reach in institutional markets. Financial institutions already value XRP for its speed, scalability, and secure transactions. Bitwise has had a strong year in 2024, surpassing $10 billion in client assets. 

Acquiring ETC Group and rebranding products signal a clear commitment to European growth. Bitwise’s plans also extend beyond Europe. The company recently filed for an XRP spot ETF in the United States. 

For now, this development highlights a broader strategy to dominate institutional crypto investments globally. With Ripple’s backing and Bitwise’s bold expansion, the collaboration could redefine regulated crypto investment worldwide.