It has more than doubled in two weeks on several positive catalysts, such as the clearing of regulatory headwinds for closely related Ripple Labs, the launch of money market funds on XRP Ledger, and a technical bullish price analysis.

Ripple, the blockchain giant, is backing Bitwise Asset Management’s revamped Physical XRP ETP, now trading under the ticker GXRP. The rebranding is part of Bitwise’s overhaul of its European product line following its August acquisition of the ETC Group.

WisdomTree, a prominent New York-based asset management firm overseeing $113 billion in assets, has filed for an XRP exchange-traded fund (ETF) with Delaware authorities.

Ripple invests in Bitwise's rebranded Physical XRP ETP amid growing demand for crypto-backed investments in 2024.

Bitwise has rebranded its European XRP ETP to the Bitwise Physical XRP ETP, backed by Ripple's investment, enhancing access for investors seeking exposure to the growing cryptocurrency market.