Inside Bitwise’s XRP ETF: 0.34% Fee, Coinbase Custody and BNY Mellon
Bitwise's XRP ETF, listed on NYSE Arca under ticker XRP, has $616.4M in assets with a 0.34% fee. Coinbase Custody handles XRP, while BNY Mellon manages fund infrastructure. The ETF tracks XRP's value minus fees, using the CME CF XRP-Dollar Reference Rate.
How this was made
The 30-second read
Why it matters
The disclosed fee and custody arrangement clarify the cost and safety of investing in XRP via an ETF, likely influencing allocation decisions.
Market read
First public disclosure of the ETF's fee and custody details, offering a regulated XRP exposure route.
What to watch
Regulatory scrutiny of crypto ETFs could affect the product's longevity and investor appetite.
Background
Bitwise's XRP ETF is an update to an existing product, adding details on fee structure, custody, and administration.
Ticker impact
Bitwise filed an update for its spot XRP ETF, listing it on NYSE Arca with a 0.34% expense ratio and Coinbase custody.
potential modest upside as investors allocate to the new product
First disclosure of fee and custody details creates a clear value proposition for XRP exposure.
Market effects
May boost demand for crypto‑related ETFs and increase visibility of spot crypto products.
U.S. investors gain a regulated vehicle for XRP, potentially influencing North American crypto trading volumes.
Provides a template for other jurisdictions to launch similar spot crypto ETFs.
Counterpoint
Investors may prefer holding XRP directly to avoid ETF fees and custodial constraints.
Key entities
- CompanyBitwise
Asset manager launching the XRP ETF.
- Service ProviderCoinbase Custody
Custodian for the underlying XRP.
- Service ProviderBNY Mellon
Administrator and transfer agent for the ETF.
