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Bitwise Seeks SEC Approval for Spot XRP ETF
- Bitwise Asset Management has filed a registration statement with the SEC for a new ETF focused on XRP.
- The ETF, called Spot XRP ETF, aims to provide exposure to the value of XRP held by the trust.
- Bitwise argues that XRP is a decentralized digital asset exempt from US federal securities laws.
- However, the ongoing legal battle between the SEC and Ripple Labs poses challenges for the approval of the ETF.
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