Bitwise Asset Management will launch a new XRP spot exchange-traded fund (ETF) on Thursday with the ticker “XRP” on the NYSE, raising concerns about potential confusion. Other crypto ETF tickers typically feature the asset manager’s name and the underlying asset, unlike Bitwise’s XRP choice. XRP ETF ticker causes confusion among users

Bitwise filed for a spot XRP ETF in October 2024 and previously launched the Bitwise Physical XRP ETP in Europe in 2022. The company’s CIO, Matt Hougan, sees XRP as a promising asset due to its cost efficiency, transaction volume, and strong community support, signaling a level playing field for XRP in the new regulatory landscape.

More XRP ETFs are on the horizon, with Canary Capital’s XRPC ETF launching on Nov. 13 and receiving over $250 million in inflows on its first trading day. Bloomberg ETF analyst James Seyffart anticipates upcoming XRP ETF launches from Grayscale and Franklin Templeton on Nov. 24, coinciding with a wave of over 100 ETF launches post-US government shutdown.

Read more at Cointelegraph: Bitwise XRP ETF Debuts as Community Questions Ticker Choice