- Bitwise Physical XRP ETP (GXRP) has been launched on Germany’s Deutsche Börse Xetra.
- An analyst has predicted that XRP could hit $30 if it successfully captures 3-4% of the global financial market.
According to reports, Bitwise Asset Management is renaming its European XRP Exchange-Traded Product (ETP) as Bitwise Physical XRP ETP (GXRP). This is part of the effort to rebrand its European product suite to enable investors to gain exposure to XRP. As captured in a press release, the product is trading on Germany’s Deutsche Börse Xetra with over $80,000,000 in Assets Under Management (AUM).
For our European investors: Today, we’re excited to introduce the Bitwise Physical XRP ETP (GXRP) with over $80,000,000 in AUM. GXRP is trading on Germany’s Deutsche Börse Xetra and provides institutional-grade access to the asset. We’re also proud to share that Ripple is an… pic.twitter.com/LOhWMtWh6D— Bitwise (@BitwiseInvest) November 27, 2024
Commenting on this, the CEO and Co-Founder at Bitwise, Hunter Horsley, lauded XRP and the XRP Ledger as one of the most trusted blockchains with incredible track records.
XRP and the XRP Ledger are among the most familiar and trusted blockchains in crypto. XRPL is unique with over 10 years of track record in reliability while continuing to expand in capabilities. We’re thrilled to be providing access for investors through an institutional quality product with the Bitwise Physical XRP ETP (GXRP).
XRP is currently the sixth largest crypto, with a market cap of $83 billion. According to the report, its popularity was motivated by the expanding use of the XRPL in areas such as cross-border payment, Real World Tokenization, Institutional Decentralized Finance (DeFi), etc. The blockchain is also known for its incredible speed, efficiency, and reliability.
Brad Garlinghouse’s Comment and XRP Price Prediction
Ripple CEO Brad Garlinghouse believes that XRP has recorded an explosive demand for exposure due to the growing interest in crypto-backed investment.
Global demand for exposure to the crypto asset class has exploded in 2024, fueled by a growing interest in crypto-backed investment offerings. 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. 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.
According to our research, Bitwise has recorded impressive growth from year to date as its total client assets surpass $10 billion. Recently, it acquired the European ETP issuer, ETC Group, as it plans to issue new institutional-grade crypto ETPs. Per our research, this would include Bitwise Aptos Staking ETP.
In other news, WisdomTree, a renowned New York-based asset manager firm, has filed for an XRP exchange-traded fund (ETF). This adds them to the growing list of companies seeking to bring the asset to the US market. Meanwhile, CNF recently reported that WisdomTree’s XRP ETP has debuted in Europe.
Amid the backdrop of these developments, XRP is trading at $1.47 after surging by 1.7% on its daily chart and 30% on its weekly chart.
Crypto analyst Robert Doyle believes that XRP is “going to make people rich” soon. According to him, one of the biggest catalysts of the asset is the ongoing transition in the global financial system. Per his analysis, the asset could hit $30 or even $50 if it manages to dominate just 4-5% of the global financial market.
If you hold $XRP You WILL be Very RICH Soon! pic.twitter.com/oUlkFqwC2J— CryptoSensei (@Crypt0Senseii) November 27, 2024
