Bitwise and Ripple Partner to Rebrand XRP ETP Amid Rising Crypto Demand

Bitwise Asset Management has rebranded its European XRP exchange-traded product (ETP) with the strategic backing of Ripple, the blockchain firm behind XRP. The revamped offering, now named the Bitwise Physical XRP ETP (GXRP), was unveiled on Nov. 27 as part of a broader update to Bitwise’s European product portfolio.

Ripple, which has pledged investment support for the newly named product, did not disclose the financial specifics of its involvement. The GXRP ETP, originally launched in 2022, remains a fully-backed, institutional-grade vehicle providing European investors direct exposure to XRP. This product operates under a prospectus approved by Germany’s financial regulator, ensuring compliance and transparency.

Ripple CEO Brad Garlinghouse highlighted the favorable shift in U.S. regulatory clarity for cryptocurrencies, emphasizing that global demand for digital assets is accelerating. He expects this trend to fuel interest in crypto ETPs, particularly as international markets seek accessible and secure investment solutions.

Bitwise continues to strengthen its footprint in the digital asset space, managing over $10 billion in client assets. Its recent acquisitions of the European ETP issuer ETC Group and Ethereum staking service provider Attestant underscore its commitment to expanding product offerings and infrastructure.

In addition to the rebranded XRP ETP, Bitwise has proposed a novel Bitcoin-Ethereum hybrid ETF to U.S. regulators. Filed with the SEC on Nov. 26, the proposed fund would balance exposure between Bitcoin and Ethereum, offering a diversified portfolio of the two leading cryptocurrencies. Bitwise CIO Matt Hougan expressed confidence in the product, describing it as a likely “huge hit with investors.”

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