The exchange-traded fund is one of the first US-listed products to track the cryptocurrency directly
Bitwise Asset Management is set to launch its new spot XRP exchange-traded fund today, marking one of the first US-listed products to track the cryptocurrency directly. The fund will trade on the New York Stock Exchange under the ticker “XRP,” a decision that immediately sparked debate among crypto specialists. Supporters praised the bold branding, while others argued the choice could confuse retail traders who may mistake the ETF for the token itself.
Big news: The Bitwise XRP ETF is set to begin trading on NYSE tomorrow 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. This product brings investors spot exposure to XRP, the crypto asset that aims to… pic.twitter.com/0GLR37NnuI
— Bitwise (@BitwiseInvest) November 19, 2025
The unusual ticker has become the breakout talking point ahead of the listing. Several users on X questioned how Bitwise secured the three-letter symbol, noting that no ETF in the US uses “BTC” or “ETH” as a ticker. Others wondered how regulators cleared a label identical to the underlying asset. Despite the concerns, a segment of the crypto community applauded the move, calling it a marketing advantage that guarantees instant recognition.
Some users even speculated that the choice signals a broader strategy. One commenter suggested Bitwise may be positioning the ETF as the primary vehicle for retail exposure, while native XRP becomes more focused on settlement and institutionalgrade functions. Bitwise has not endorsed that theory, but the idea quickly circulated among XRP supporters online.
The launch marks Bitwise’s second XRP-based product. The firm already offers a European ETP known as GXRP, which debuted in 2022. In announcing the US version, Bitwise CIO Matt Hougan highlighted XRP’s long track record of low-cost, highvolume transactions and its strong community. He also emphasized that, under the new regulatory environment, XRP can finally compete on equal footing with other digital assets.
The ETF arrives amid a wave of XRP-focused filings. Canary Capital’s XRPC fund launched earlier this month and saw more than $250 million in day-one inflows. Analysts expect Grayscale’s and Franklin Templeton’s XRP ETFs to go live next week, setting up a crowded and highly watched rollout schedule.
With the federal shutdown now resolved, Bitwise expects a surge of crypto fund launches in the coming weeks, what Hougan called an “ETF-palooza.” Today’s debut puts XRP at the front of that wave.
