Ripple Invests in Bitwise’s Rebranded XRP ETP as Company Expands in Europe

Bitwise has made a significant move in the European market by rebranding its XRP exchange-traded product (ETP) to "Bitwise Physical XRP ETP" following its filing for a spot XRP ETF in the United States.

The change marks a key step as the company expands its offerings across the region.

In addition to the rebranding, Ripple has announced plans to invest in Bitwise’s revamped XRP ETP as part of its strategy to strengthen its presence in Europe. Bitwise CEO Hunter Horsley highlighted the reliability of the XRP Ledger, noting that its more than 10-year track record positions it as one of the most trusted blockchains in the crypto space.

He expressed excitement about offering institutional-grade access to the newly rebranded product.

Ripple’s CEO, Brad Garlinghouse, emphasized the growing demand for crypto investment products, forecasting significant growth in 2024 as interest in crypto-backed offerings continues to rise. The clearer regulatory environment in the U.S. is expected to further fuel this demand, which will likely benefit crypto ETPs such as Bitwise’s Physical XRP ETP.

This rebrand comes on the heels of Bitwise’s recent expansion, which included launching its first Aptos staking ETP earlier in November, signaling its commitment to broadening its crypto product range.