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Bitwise seeks approval for first spot XRP ETF despite regulatory uncertainty
- Bitwise has filed an application for the first spot XRP exchange-traded fund (ETF) with the SEC.
- The proposed ETF aims to directly hold XRP and is pending approval.
- Bitwise chose XRP for its ability to facilitate cross-border payments and its strong ecosystem.
- Market analysts express doubts about the approval of the XRP ETF under the current regulatory environment.
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