TL;DR
- Ripple has announced an investment in the rebranding of Bitwise Physical XRP ETP, which has boosted the price of XRP by 5.8%, reaching $1.45.
- The rise in XRP’s value reflects the growing interest of institutional investors in exchange-traded products (ETPs) related to cryptocurrencies.
- Bitwise continues its expansion in Europe after acquiring ETC Group, launching new products, and aiming to register an XRP ETF in the U.S.
Ripple has announced a strategic investment in the rebranding of Bitwise Physical XRP ETP, which has resulted in a significant increase in the price of XRP, which has surged by 5.8%, reaching $1.45 at the time of writing this article.
The rise in XRP’s value is a reflection of investor confidence in digital assets, especially those linked to exchange-traded products (ETPs), which have gained popularity among institutional investors in recent months.
The Bitwise Physical XRP ETP, previously known as the European XRP ETP, is part of Bitwise’s new product suite, a cryptocurrency asset management firm that gained significant attention last year. Through this investment, Ripple aims to strengthen its presence in the cryptocurrency-backed investment product market, a sector that has seen growing demand due to the increasingly favorable regulatory environment in the United States.
Ripple (XRP): Value, Liquidity, and Practicality
According to Brad Garlinghouse, CEO of Ripple, regulations on cryptocurrencies in the U.S. have improved. This will allow for greater acceleration in demand for innovative financial products. According to Garlinghouse, XRP is solidifying itself as one of the most valuable, liquid, and practical digital assets, making it a key investment for those seeking resilient and useful assets in the real world.
Bitwise, for its part, continues to work on expanding its presence in Europe, after acquiring ETC Group in August of this year. In addition to rebranding its XRP product, Bitwise has launched other products, such as the Bitwise Aptos Staking ETP, and continues working on registering an XRP ETF for the U.S. market. With more than $10 billion in assets under management, the firm seeks to capitalize on the growth of the cryptocurrency industry and position itself at the top.
The integration of cryptocurrencies into traditional financial markets is now a factual reality, and Ripple and Bitwise are working hard to take the industry to the next level