Bitwise CEO Shares XRP’s Impressive Inflows

Bitwise CEO Hunter Horsley recently took to the X social media network to highlight the impressive inflows recorded by the firm's XRP ETF. 

"Grateful to investors for entrusting Bitwise to steward their investments," he said. 

The Bitwise XRP ETF began trading under the "XRP" ticker on Nov. 20. 

The management fee is 0.34%, but Bitwise waived that fee for the first month on the first $500 million in AUM

The ETF launched during a volatile crypto market. Major cryptocurrencies recorded major price drops, with the XRP token plunging below $2.

Other key players 

Earlier today, Grayscale joined the XRP ETF race with its own fund tracking the red-hot token. 

Some other key players include Canary Capital, Franklin Templeton, and 21Shares. BlackRock and Fidelity, the two investment giants that are dominating the Bitcoin ETF scene, decided to ignore XRP. The same applies to New York-based VanEck, whose head of digital asset research recently questioned the token's utility on social media.  

In the meantime, Franklin Templeton’s Crypto Trust (EZPZ), an investment fund that gives investors exposure to a basket of crypto assets, will greatly expand the number of crypto assets in the index

The firm has just filed an 8-K (a formal SEC disclosure) announcing that the fund will offer exposure to eight major cryptocurrencies, including XRP. 

The fund will support in-kind creations and redemptions. In-kind mechanisms allow market makers to deposit or withdraw the actual crypto assets when creating or redeeming shares of the fund, instead of using cash.