TechFlow reported on October 17 that cryptocurrency investment firm Bitwise submitted an updated S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), advancing its application for an XRP ETF. The update provides detailed information on the trust structure, custody arrangements, and share creation and redemption mechanisms.
Bitwise plans to primarily store trust assets using cold storage, keeping only a minimal amount in hot wallets to meet daily operational needs. The company has designated its primary executing agent to trade XRP across multiple exchanges including Bitstamp, Kraken, Coinbase, and LMAX to enhance trading efficiency.
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