Bitwise Rebrands XRP ETP with Ripple’s Support, Expands European Crypto Offerings

Bitwise Asset Management has rebranded its European XRP exchange-traded product (ETP), signaling a deeper collaboration with Ripple as demand for cryptocurrency investment vehicles surges globally.

Bitwise Physical XRP ETP: A New Identity

In a strategic move, Bitwise unveiled the Bitwise Physical XRP ETP (GXRP) on Nov. 27, rebranding its European XRP product. This development comes with Ripple, the blockchain firm behind XRP, providing financial backing for the revamped product. While the specifics of Ripple’s investment remain undisclosed, the collaboration underscores the growing institutional interest in cryptocurrency-focused products.

Launched in 2022, the GXRP is a fully backed, institutional-grade investment vehicle that offers European investors exposure to XRP. The product operates under a prospectus approved by BaFin, Germany’s financial regulatory authority. The rebranding aligns with Bitwise's broader efforts to enhance its European product suite and capitalize on the increasing appetite for digital assets.

Ripple’s Strategic Vision

Ripple CEO Brad Garlinghouse highlighted the significance of regulatory clarity in the U.S. crypto space, suggesting it will accelerate global demand for digital asset products like ETPs. He stated, “With the U.S. regulatory environment for crypto becoming more clear, global demand for crypto exposure is poised to accelerate, further driving demand for crypto ETPs.”

Bitwise Expands its Footprint

The rebranding is part of Bitwise’s larger expansion strategy, which has seen the firm grow its total client assets under management to $10 billion. Recent acquisitions of the European ETP issuer ETC Group and non-custodial Ethereum staking service Attestant showcase Bitwise's commitment to diversifying its offerings across the crypto ecosystem.

Bitwise has also proposed a new Bitcoin-Ethereum mixed ETF to U.S. regulators. According to a Nov. 26 filing with the Securities and Exchange Commission (SEC), the fund would provide a balanced portfolio of Bitcoin and Ethereum exposure. Bitwise CIO Matt Hougan expressed optimism about the product, calling it “a huge hit with investors” as it combines the stability and innovation of the two leading cryptocurrencies.

Conclusion

The rebranding of the Bitwise Physical XRP ETP and Ripple’s backing reflect a strengthening relationship between crypto institutions and blockchain innovators. With regulatory landscapes becoming clearer and demand for digital assets growing globally, Bitwise and Ripple are positioning themselves at the forefront of this evolving market. As institutional interest surges, such collaborations are set to play a pivotal role in shaping the future of crypto investments.