Bitwise’s Fourth S-1 Amendment Adds NYSE Listing and 0.34% Fee, Signaling Near-Final SEC Readiness
Bitwise Asset Management has taken a significant step toward securing approval for the first U.S.-listed XRP exchange-traded fund (ETF). On October 31, the firm submitted Amendment No. 4 to its S-1 filing with the U.S. Securities and Exchange Commission (SEC), adding key details that suggest the filing is nearing completion.
The latest filing reveals that the XRP ETF will be listed on the New York Stock Exchange (NYSE) and will carry a management fee of 0.34%. Experts interpret these updates as indicators that Bitwise is likely close to receiving regulatory approval. Bloomberg’s senior ETF analyst Eric Balchunas commented, “Bitwise just updated their XRP ETF filing to include exchange (NYSE) and fee of 0.34%, which are typically the last boxes to check.”
### XRP ETF May Start Trading Soon
Historically, filings at this stage tend to receive approval shortly after the review process concludes. The updated filing uses clear and concise language, which could accelerate the timeline. If there are no regulatory delays, the XRP ETF could begin trading in about twenty days.
James Seyffart from Bloomberg Intelligence noted, “Only the Bitwise XRP ETF has the shorter language that might allow it to launch in 20 days. But tons of issuers filing amended and updated documents past day+.” This suggests Bitwise may be ahead in the approval process compared to competing issuers.
### Other Asset Managers Eye Launch Dates
Several other asset managers are pursuing similar XRP ETF products. Eleanor Terrett of Crypto America reported that Canary Funds recently removed a delay-related clause from its S-1 filing, effectively shifting timing control away from regulators.
Canary Funds is positioning itself for a possible November 13 launch, contingent on timely clearance of its Nasdaq 8-A filing. Terrett added that government scheduling could influence the final launch date, saying, “The government reopening could affect the timing, potentially moving it up if the filing is complete and the SEC is satisfied, or back if staff propose additional comments.”
### Massive XRP ETF Inflows Could Push Prices Higher
Demand forecasts for an XRP spot ETF remain optimistic. Steven McClurg, CEO of Canary Capital, shared his outlook: “I may have been a little bearish. We’re going to hold to that number. If it hits that number, at least I’ll be right, and if it’s $10 billion, then I’m still right because we got at least $5 billion. If we saw that kind of inflow, I think it would definitely be in the top 20 ETFs of all time, if not in the top 10.”
Supporting this optimism, the previously introduced hybrid product REX-Osprey’s XRP ETF has recorded net inflows of $124.9 million. The active trading around this product highlights strong interest from large investment firms in XRP-related exchange products.
Analysts believe that significant inflows into an XRP spot ETF could drive the token’s price sharply higher, potentially reaching levels never seen before. As of the latest update, XRP is trading around $2.50, up 1% over the past 24 hours. The token faces strong resistance near $2.75.
If buyers push past this resistance, XRP’s price could climb to around $3. However, if selling pressure intensifies, the price might fall back to approximately $2, representing a 20% decrease from its current level.
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Stay tuned for further updates as the SEC review progresses and XRP ETFs edge closer to launch.
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