Ripple CEO Brad Garlinghouse Praises Bitwise's ETF Filing that Includes Exposure to XRP

Ripple CEO Brad Garlinghouse has taken to Twitter to comment on Bitwise's recent ETF filing that includes exposure to the XRP token.

Ripple CEO Praises Bitwise ETF Filing with XRP Exposure, Highlights Key Coins

After Grayscale filed for a combo crypto ETF last month, another major crypto asset manager is now seeking to convert its crypto index fund into an exchange-traded fund.

On Thursday, Bitwise announced its intention to convert the Bitwise 10 Crypto Index Fund (BITW) into an ETF. The move comes after the Securities and Exchange Commission (SEC) recently opened the door for crypto ETFs, with the approval of the ProShares Bitcoin Strategy ETF.

The Bitwise 10 Crypto Index Fund is a closed-end trust that trades on the New York Stock Exchange Arca. The trust currently tracks the performance of 10 major cryptocurrencies, weighted by their market capitalization.

According to the filing, the fund will be exposed to XRP, Bitcoin, Ethereum, Solana, Cardano, Avalanche, Bitcoin Cash, Chainlink, Polkadot and Uniswap. However, all of these tokens constitute only a smart part of the trust (2.7%). XRP itself has a 1.6% weighting.

Ripple CEO Praises Bitwise ETF Filing

Reacting to the development, Ripple CEO Brad Garlinghouse took to social media to comment on Bitwise's recent ETF filing.

“XRP, BTC, ETH, SOL — that's the alphabet soup I like to see,” Garlinghouse said in his post.

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