Ripple is investing in the Bitwise Physical XRP Exchange-Traded Product (ETP) as part of its European market expansion plan. Bitwise Asset Management has redesigned the ETP, previously known as the ETC Group Physical XRP, to better align with its European expansion strategy.
The GXRP ETP provides direct, physically backed exposure to XRP, one of the most popular cryptocurrencies on the market. XRP has become a key driver of financial innovation, particularly through its blockchain infrastructure, the XRP Ledger, which enables cross-border payments and decentralized finance applications.
Bitwise’s decision to rename and spend more on its European products follows its acquisition of ETC Group earlier this year. This acquisition expanded its portfolio to include a variety of cryptocurrency investment products, such as Bitcoin and Ethereum ETPs. With the GXRP rebranding, Bitwise hopes to attract European investors looking for secure and institutional-grade crypto investment options.
Ripple CEO Brad Garlinghouse emphasized the growing demand for cryptocurrency-backed investment products as global regulatory certainty improves. He underlined that Ripple’s investment in GXRP is consistent with a larger trend of financial institutions adopting cryptocurrencies because of their usability and robustness.
Bitwise has also announced ambitions to expand its whole European ETP lineup, capitalizing on the fast-expanding interest in cryptocurrency investments. In 2024, the company announced considerable growth, handling more than $10 billion in client assets and launching new products like an Aptos staking ETP and a Bitcoin-Ether ETF.
This collaboration between Ripple and Bitwise exemplifies a common goal of accelerating bitcoin adoption through creative, transparent, and accessible investment solutions designed for worldwide markets.
