Bitwise Files for 10 Crypto Index ETF as 21Shares Unveils Four New Crypto ETPs

Bitwise has filed an application with the U.S. Securities and Exchange Commission (SEC) to introduce an exchange-traded fund (ETF) based on its 10 Crypto Index Fund. This fund includes Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap, making it the most diversified and comprehensive crypto ETF in the United States.

The index tracks the performance of the ten largest cryptocurrencies by market capitalization and has been managed by Bitwise since 2018.

Ripple has also thrown its support behind Bitwise's Physical XRP ETP (GXRP), previously called the European XRP ETP, which provides European investors direct exposure to XRP.

"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 Ripple CEO Brad Garlinghouse in a press release. "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," he added.

Launched in 2022, the ETP operates under a BaFin-approved prospectus, adhering to Germany’s financial regulatory standards.

In parallel, Bitwise has joined the race for Solana ETFs by submitting regulatory filings for the product, following VanEck and 21Shares, which filed their applications in June.

Meanwhile, Cboe BZX Exchange has submitted four 19b-4 filings—formal proposals for rule changes to the SEC from self-regulatory organizations like stock exchanges. Cboe has already made a mark with its Bitcoin ETF (BITB), being among the first ten applicants to seek SEC approval for cryptocurrency-based ETFs.

Earlier this week, WisdomTree registered an XRP ETF in Delaware, signaling growing interest in digital asset investment vehicles. This move hints at plans to file an S-1 registration with the SEC to launch an XRP-focused ETF.

WisdomTree joins Bitwise and Canary Capital in pursuing SEC approval for spot XRP ETFs. Additionally, 21Shares has announced four new exchange-traded products (ETPs) for four digital asset tokens, including: 21Shares NEAR Protocol Staking ETP; 21Shares Ondo ETP; 21Shares Pyth Network ETP; and 21Shares Render ETP.

These developments highlight the increasing demand for innovative crypto investment products in the evolving regulatory environment.