Bitwise Asset Management, the global crypto asset manager with over $15 billion in client assets, announced the launch of the Bitwise XRP ETF on NYSE. The Fund will start trading on November 20, 2025, with the ticker XRP. It has a management fee of 0.34%, which is waived for the first month on the first $500M in assets.¹

The Bitwise XRP ETF will hold spot XRP, the world's third-largest crypto asset with a market cap of over $120 billion and a 13-year track record. XRP is the digital currency that powers the XRP Ledger, a blockchain that focuses on the efficient exchange, tokenization, and settlement of both crypto-native and traditional assets.² Since its inception, the XRP Ledger has facilitated over four billion transactions, with average daily volume of $1.9 billion and average settlement time of 3-5 seconds.XRP aims to disrupt the market for cross-border payments, a market projected to reach $250 trillion by 2027.

The Bitwise XRP ETF (the "Fund") is not suitable for all investors. An investment in the Fund is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. The Fund is not an investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and therefore is not subject to the same protections as ETFs and mutual funds registered under the 1940 Act. An investment in the Fund is not the same as a direct investment in the XRPtoken ("XRP").

"XRP is a really intriguing asset for several reasons," said Bitwise CIO Matt Hougan. "It has operated successfully for a very long period of time at extremely low cost, it processes high transaction volumes, and it has a really strong and vibrant community of supporters. In the new crypto-forward regulatory regime, XRP stands on an equal playing field with other digital assets. Now the market will have the opportunity to see what XRP can really do."