Bitwise Rebrands XRP ETP; Ripple To Invest in Product

• Bitwise begins rebranding of European product suite, renames physical XRP ETP
• Ripple announces plans to invest in Bitwise Physical XRP ETP

November 27, 2024. Frankfurt, Germany: Bitwise Asset Management announced today that it has renamed its European XRP exchange-traded product (Ticker GXRP; ISIN DE000A3GYNB0) as part of a broader rebranding of its European product suite. In conjunction with the news, Ripple, a leading provider of digital asset infrastructure, has announced that it will invest in the product—the Bitwise Physical XRP ETP (formerly ETC Group Physical XRP).

XRP, the world’s fifth-largest crypto asset at a market cap of over $80 billion, has experienced a surge in popularity due to the expanding use cases on the XRP Ledger (XRPL) particularly in areas like cross-border remittances, institutional DeFi, and real world tokenization. The XRPL is known for its speed, efficiency, and reliability, which are important features for the many financial services firms that utilize it in their businesses.

European investors can gain exposure to XRP through GXRP, the 100% physically backed ETP launched by Bitwise (formerly ETC Group) in 2022 issued under a prospectus approved by Germany’s financial regulator.

Hunter Horsley, CEO and Co-Founder at Bitwise: “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).”

Brad Garlinghouse, CEO at Ripple: “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.”

Bitwise has seen significant growth in 2024, recently crossing over $10B in total client assets. The firm acquired leading European ETP issuer, ETC Group in August, and is set to rebrand its European ETP portfolio while strategically expanding its operation in Europe. Bitwise plans to launch additional institutional-grade crypto ETPs, including the Bitwise Aptos Staking ETP which began trading on the SIX Swiss Exchange on 19 November 2024, and a filing of a Form S-1 for an XRP spot ETF in the US.

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Key Product Details

More information about the product is provided on the respective product page.

The full Bitwise product list including all exchange listings and trading information is available at https://etc-group.com/products/.

About Bitwise

Bitwise is one of the world’s leading crypto specialist asset managers. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has established a track record of excellence managing a broad suite of index and active solutions across ETPs, separately managed accounts, private funds, and hedge fund strategies – spanning both the U.S. and Europe.

In Europe, for the past four years Bitwise (formerly ETC Group) has developed an extensive and innovative suite of crypto ETPs, including Europe’s largest and most liquid bitcoin ETP, or the first diversified Crypto Basket ETP replicating an MSCI digital assets index.

This family of crypto ETPs is domiciled in Germany and approved by BaFin. We exclusively partner with reputable entities from the traditional financial industry, ensuring that 100% of the assets are securely stored offline (cold storage) through regulated custodians.

Our European products comprise a collection of carefully designed financial instruments that seamlessly integrate into any professional portfolio, providing comprehensive exposure to crypto as an asset class. Access is straightforward via major European stock exchanges, with primary listings on Xetra, the most liquid exchange for ETF trading in Europe. Retail investors benefit from easy access through numerous DIY/online brokers, coupled with our robust and secure physical ETP structure, which includes a redemption feature. For more information, visit www.bitwiseinvestments.com/eu

Media contacts:

JEA Associates
John McLeod
00 44 7886 920436
john@jeaassociates.com

Important information
This press release does not constitute investment advice, nor does it constitute an offer or solicitation to buy financial products. This press release is issued by Bitwise Europe GmbH (“BEU”), a limited company domiciled in Germany, for information only and in accordance with all applicable laws and regulations. BEU gives no explicit or implicit assurance or guarantee regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is advised not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Please note that this article is neither investment advice nor an offer or solicitation to acquire financial products or cryptocurrencies.

Before investing in crypto Exchange Traded Products (“ETPs”), potential investors should consider the following:
Potential investors should seek independent advice and consider relevant information contained in the base prospectus and the final terms for the ETPs, especially the risk factors. ETPs issued by BEU are suitable only for persons experienced in investing in cryptocurrencies and risks of investing can be found in the prospectus and final terms available on www.etc-group.com. The invested capital is at risk, and losses up to the amount invested are possible. ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income or match precisely the performance of the underlying cryptocurrency. Investing in ETPs involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks.