Bitwise and Grayscale Set Fees for XRP ETFs Despite SEC Delays

Bitwise and Grayscale have shared the fees for their planned exchange-traded funds (ETFs) that follow the price of XRP. This comes as some crypto ETFs plan to launch without waiting for official approval from the U.S. Securities and Exchange Commission (SEC). 

Both companies are pushing ahead, showing the rising competition among fund managers in the crypto market.

Bitwise and Grayscale Disclose Fees for Upcoming XRP ETFs

Over the weekend, Bitwise revealed a 0.34% fee for its Bitwise XRP ETF. Grayscale followed on earlier today with a 0.35% fee for its own XRP ETF and its Dogecoin ETF. These filings show both firms’ determination to expand their crypto ETF offerings despite a complex regulatory environment.

These announcements come shortly after both firms successfully launched ETFs tracking Solana (SOL). Bitwise’s SOL ETF attracted $56 million on its first day, the largest debut for any ETF this year. Canary Capital also joined the momentum, launching funds tied to Litecoin (LTC) and Hedera (HBAR).

Crypto Firms Push Ahead as XRP ETFs Near Launch

Reports revealed that Grayscale is following the same strategy it used for its Solana ETF, allowing its funds to list without waiting for SEC approval. The firm appears to be taking a similar route for its XRP ETF. 

Bitwise, on the other hand, has not made any comments, but experts believe the first spot XRP ETFs could start trading within two weeks. This shows how some companies are finding new ways to deal with regulatory delays and launch crypto products faster.

The possible launch of spot XRP ETFs marks a major moment for the crypto industry. Many institutional investors are becoming more open to launching the digital asset as an investment fund. 

This comes months after the SEC ended its five-year legal case against Ripple, the company behind XRP. As firms like Bitwise and Grayscale move forward, the growth of crypto ETFs shows that more investors are now interested in digital assets. This shows a growing effort to make cryptocurrencies part of regular investment options.

SEC Shutdown Opens Door for Faster Crypto ETF Launches

The timing of these developments comes during a government shutdown, the longest in U.S. history, which has left the SEC operating with limited staff. Before the shutdown began, the agency approved new listing standards that could speed up crypto ETF launches once the requirements are met.

Soon after, the SEC issued updated guidance allowing firms to file an S-1 registration statement without a delaying amendment. Without this amendment, an ETF automatically becomes effective after 20 days, provided it meets all listing standards. 

This process lets companies launch crypto ETFs without waiting for the SEC’s direct approval. However, any change to the filing resets the 20-day countdown.