Bitwise Piles In More Paperwork As XRP ETF Inflows Climb Past $415M 📈

Bitwise has filed an updated Form 424B3 prospectus for its spot XRP ETF dated September 28, the latest in a series of filings as the fund continues issuing shares on NYSE Arca under the ticker XRP. The prospectus registers an unspecified number of shares, with creations and redemptions conducted in baskets of 10,000 through authorized participants.

According to CoinGlass data, the Bitwise XRP ETF has recorded $415.07 million in cumulative net inflows since launch. Over the four-day window from September 22 to September 25, the product pulled in roughly $38.4 million combined, led by $12.47 million on September 22.

The fund gives investors direct exposure to the value of XRP held by the Trust, with net asset value calculated using the CME CF XRP-Dollar Reference Rate-New York Variant. XRP held by the Trust is custodied by Coinbase Custody Trust Company in segregated accounts. Bitwise charges an annual sponsor fee of 0.34% of the Trust's XRP holdings, and the ETF is passively managed without active trading strategies.