- Bitwise launches GXRP ETP on Deutsche Börse, offering $80M AUM and Ripple-backed institutional-grade access to XRP.
- XRP’s $80B market cap thrives on XRPL’s speed, scalability, and ten-year reliability in real-world financial applications.
- Bitwise expands in Europe with GXRP and plans a U.S. XRP spot ETF, signaling confidence in XRP’s growing adoption.
On Germany's Deutsche Börse Xetra, Bitwise Asset Management declared the Bitwise Physical XRP ETP was now available on an X post. Institutional-grade exposure to XRP is provided to European investors through the renamed exchange-traded product. The product highlights Bitwise's growing presence in Europe, managing over $80 million in assets. Ripple's investment in XRP shows its rising popularity and usefulness.
Growing Use Cases Help XRP Gain Traction
XRP is worth over $80 billion because of its many uses on the XRP Ledger. It helps with real-world tokenization, DeFi for institutions, and fast cross-border transfers. Besides its impressive ten-year reliability record, XRPL’s speed and scalability make it ideal for financial services. Consequently, its rising adoption has solidified XRP as a preferred asset for institutional investors seeking exposure to cryptocurrencies with real-world utility.
Moreover, Bitwise’s GXRP is fully backed by physical XRP and was issued under a German regulator-approved prospectus. This regulatory alignment enhances investor confidence in the product’s security and compliance standards.
Bitwise Expands European Crypto Offerings
Bitwise’s CEO, Hunter Horsley, emphasized XRPL’s credibility and long-standing track record, calling it a trusted blockchain in the crypto industry. Furthermore, Bitwise continues expanding its European footprint following its acquisition of the ETC Group in August. The firm plans to rebrand its European ETP portfolio and introduce more institutional-grade products.
In November, Bitwise launched the Aptos Staking ETP on the SIX Swiss Exchange, showcasing its diversification strategy. With a Form S-1 file, the company is also getting ready for a U.S.-based XRP spot ETF, which may greatly increase XRP use.
The increasing need for cryptocurrency-backed investments worldwide in 2024 was mentioned by Brad Garlinghouse, CEO of Ripple. GXRP is a robust and useful digital asset, and Ripple's backing for it demonstrates how its growth is being aided by more transparent U.S. rules.
The post Bitwise Debuts XRP ETP with Ripple’s Backing on Germany’s Deutsche Börse appeared first on Crypto News Land.