Crypto
native
asset
manager
Bitwise
is
moving
toward
creating
an
exchange-traded
fund
tracking
(XRP),
the
token
closely
associated
with
crypto
company
Ripple.
The
firm
registered
a
trust
entity
in
the
state
of
Delaware
on
Tuesday,
which
appeared
on
the
state’s
Division
of
Corporations
website.
Registering
a
trust
entity
is
a
first
step
toward
filing
to
list
and
trade
shares
of
an
ETF;
companies
like
Bitwise,
Blackrock
and
Fidelity
all
filed
trust
entities
for
bitcoin
(BTC)
and
Ethereum’s
ether
(ETH)
ahead
of
filing
for
ETFs
following
those
tokens.