Ripple Invests in Rebranded Bitwise XRP ETP, Boosting XRP Price

Ripple has announced its investment in the newly-rebranded Bitwise Physical XRP ETP, sparking a 7.2% surge in XRP’s price to $1.43, according to CoinGecko data. The cryptocurrency is now up 26.8% compared to this time last week.

The Bitwise Physical XRP ETP, previously known as the European XRP ETP, is part of Bitwise’s growing lineup of crypto asset funds, which includes spot Ethereum and Bitcoin ETFs available in the U.S.

Ripple CEO on the Investment

CEO Brad Garlinghouse highlighted the growing demand for crypto exchange-traded products (ETPs) amid clearer U.S. regulatory guidance for digital assets.

“With the U.S. regulatory environment for crypto finally becoming more clear, this trend is poised to accelerate, further driving demand for crypto ETPs, such as the Bitwise Physical XRP ETP,” said Garlinghouse. “As one of the most valuable, liquid, and utility-driven digital assets, XRP is at the forefront of this momentum, standing out as a cornerstone for those seeking access to assets that are resilient and have real-world utility.”

Ripple has consistently emphasized that it is not the issuer of XRP. The cryptocurrency, integral to the Ripple Network, is primarily used for international money transfers and currency exchanges. However, XRP’s regulatory status remains contentious as it continues to face scrutiny in a four-year-old lawsuit with the U.S. Securities and Exchange Commission (SEC).

Market Optimism and XRP’s 3-Year High

XRP spiked to a three-year high of $1.49 late last week after SEC Chair Gary Gensler announced he would step down on January 20, coinciding with President-elect Donald Trump’s inauguration. Many investors are optimistic that a post-Gensler SEC could lead to a favorable resolution of Ripple’s long-standing legal battles.

Growing Interest in XRP ETFs

Ripple’s investment isn’t the only sign of momentum for XRP ETPs. Earlier this week, WisdomTree, a leading asset manager, filed to register an XRP ETF. The initial filing in Delaware is an early step toward official SEC approval, signaling increased institutional interest in XRP as a tradable asset.

Ripple’s support for the Bitwise Physical XRP ETP aligns with growing enthusiasm for regulated crypto investment vehicles, suggesting a brighter horizon for both XRP and the broader digital asset ecosystem.