Ripple 
$1‘s CEO, Brad Garlinghouse, expressed optimism about the potential for other asset managers to apply for XRP ETFs following Bitwise’s submission of its S-1 form for the Bitwise XRP ETF. He emphasized the significance of this development for the adoption of XRP, particularly within traditional finance.
Ripple CEO: More Applications Expected
Garlinghouse indicated that Bitwise’s filing marks the beginning of a trend. He anticipates that other asset managers will seek to offer XRP ETFs similar to Bitwise. However, BlackRock officials have recently noted a lack of significant demand from their clients for altcoins outside of Ethereum 
$2,315, suggesting that they may not pursue applications for different crypto ETFs for some time.
Garlinghouse highlighted the importance of the XRP application, referencing the approval of Spot Bitcoin 
$75,226 and Ethereum ETFs earlier this year. He firmly believes that the XRP ETF will eventually become a reality, given the earlier declaration by Analisa Torres stating that XRP is not a security on its own.
Bitwise Files S-1 Form for XRP
Bitwise has officially announced its filing of the S-1 form for the Bitwise XRP ETF with the U.S. Securities and Exchange Commission (SEC). This fund intends to hold XRP directly and provide institutional investors with an opportunity to invest in the crypto token. The launch of the Bitwise XRP ETF depends on the SEC’s acceptance of the application and approval of the 19b-4 filing.
Bitwise CEO Hunter Horsley remarked on this development, stating that they believe blockchains will introduce new, policy-free money and permissionless applications for the 21st century.
Horsley added that they have been facilitating access to opportunities in this space for investors over the past seven years and are excited to continue this effort with their Bitwise XRP ETP application.
The S-1 filing by Bitwise is also significant for Ripple’s CEO and the company. It may encourage institutional investors to view XRP as a commodity rather than a security. However, approval of the Bitwise XRP ETF and other potential applications will depend on whether the SEC adopts this perspective.
