All eyes in the digital asset market are on XRP following the acceleration of preparations for the launch of several exchange-traded funds (ETFs) linked to the currency, foremost among them the Bitwise fund, which is expected to be launched tomorrow, according to Bloomberg analyst James Seyffart.
Seyffart confirmed that the Bitwise XRP ETF has been officially listed on the Bloomberg terminal, where it appears under the symbol XRP Elite, noting that the activation of these listings usually occurs shortly before the actual launch, bolstering expectations for the fund's debut tomorrow.
The listing on Bloomberg includes all necessary technical identifiers for integrating the fund into trading systems and financial institutions, which is a strong indicator of the imminent official launch.
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🔹 Simultaneous movements from Grayscale and Franklin Templeton
Bitwise is not moving alone; Grayscale is also preparing to convert XRP Trust into an XRP Spot ETF, after amending some pricing reference clauses within the regulatory documents. Recent data indicates a potential launch of its GXRP fund on November 24, alongside another fund related to Dogecoin.
Similarly, Franklin Templeton continues to take regulatory steps to launch its own XRP ETF fund, with expectations that its launch date will also be on November 24, according to Civvart updates.
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🔹 The regulatory countdown has already begun
Analyst Zack Rector pointed out that several entities exporting XRP ETF funds have begun the automatic 20-day countdown, after amending their S-1 forms to remove the self-delay clause, which allows the fund to become effective without explicit approval from the SEC.
This mechanism is the same one that Canary Capital adopted during the U.S. government shutdown, when it launched Litecoin, XRP, and Solana funds for several entities including Bitwise and Grayscale.
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🔵 Market preparing for a turning point
With Bitwise approaching its launch tomorrow, and Grayscale and Franklin Templeton preparing for their launches on November 24, it seems that XRP is experiencing one of its most active periods in the transition of the cryptocurrency market towards regulated and widely available investment products.
