Bitwise, Grayscale reveal fees for XRP and Dogecoin ETFs as firms push ahead to launch without SEC's green light
Quick Take Disclosure of the fees comes as firms have decided to take a non-traditional route in launching those products. Grayscale is taking the same path as it did for its SOL ETF last week in looking to launch the XRP ETF, according to a person familiar, meaning its XRP ETF could list without the SEC’s sign-off.
Bitwise and Grayscale have disclosed fees for their proposed exchange-traded funds tracking the price of XRP as firms gain steam to launch their products, some without the U.S. Securities and Exchange Commission's sign-off.
Over the weekend, Bitwise said it would implement a 0.34% fee for its Bitwise XRP ETF, and on Monday, Grayscale disclosed a 0.35% fee, according to their respective filings. Grayscale also disclosed the same fee for its Dogecoin ETF.
Last week, Bitwise and Grayscale launched ETFs tracking the price of SOL, bringing in millions of dollars . Bitwise's SOL ETF brought in $56 million on day one, the most of any ETF launch this year. Canary Capital also launched funds tracking Litecoin and HBAR last week.
The ETFs' listing comes after firms have decided to take a non-traditional route in launching those products. Grayscale is taking the same path as it did for its SOL ETF last week in looking to launch the XRP ETF, according to a person familiar, which means the fund could also list without the SEC's greenlight. Bitwise did not immediately respond to a request for comment.
"Sometime in next two weeks, I expect launch of first spot xrp ETFs," NovaDius Wealth Management President Nate Geraci said Sunday in a post on X. "SEC had open litigation against Ripple for past five years, up until three months ago. IMO, launch of spot xrp ETFs represents final nail in coffin of previous anti-crypto regulators."
The U.S. is close to its longest government shutdown in history, leaving the SEC with a skeleton crew — operating under its shutdown plan , which significantly limits what staff can work on as many are furloughed. Ahead of the shutdown, the agency approved listing standards, which essentially meant dozens of crypto ETF applications could go live more quickly.
A week after the government shut down on Oct. 1, the SEC issued guidance, clarifying procedures for firms seeking to go public. In it, the SEC said that if firms want to go public, they can file an S-1 registration statement without what's called a delaying amendment. A delaying amendment means the ETF wouldn’t go into effect after 20 days, allowing the SEC time to work through comments.
The S-1 has to be final, and if changes are made, that restarts the clock for them to go into effect in 20 days. The ETF's asset also has to meet the listing standards. All of those aspects combined mean that firms can potentially launch their crypto ETFs without the SEC's sign-off.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners
Goldman Sachs analyst Bobby Molavi compared the current situation to the 19th-century British railway mania: 500 companies spent more than the nation's annual income building 8,000 miles of railway, with most early investors losing out, while the real beneficiaries were the later "passengers." He pointed out that the current AI craze is driven by both debt and momentum, and that the S&P 500’s forward P/E ratio of 18x is only "a bit cheaper." Whether the builders can retain value is uncertain, and history does not offer an optimistic answer.
If Anthropic's IPO goes smoothly and the stock price rises next week, then everything remains the same for AI. Otherwise, some companies will go bankrupt.
The shrinking valuations of two major giants have triggered a chain reaction—investors are adopting more conservative revenue multiples for AI startups and are directly halting high-valuation financing for companies with zero revenue. Multiple venture capital firms have advised their portfolio companies to lower valuation expectations and to quickly build up cash reserves. Market participants warn that the outcome of Anthropic’s IPO will be a barometer for the industry: if successful, the boom will continue; if it fails, some companies may face elimination.
After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends
Morgan Stanley still maintains its most optimistic "Overweight" rating, but has lowered its year-end 2027 target price from $31 to $25.
Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%
For Corning, the recent profit growth mainly comes from the expansion of AI clusters. As the number of optical links crossing cabinets and campuses increases, customers need to deploy more optical fibers within limited conduit and cabinet space, thus driving demand for high-density optical cables and connection systems.
Crypto prices
More
