TechFlow news, November 27 — According to Cointelegraph, crypto asset management firm Bitwise announced it is rebranding its European XRP ETP product from "ETC Group Physical XRP" to "Bitwise Physical XRP ETP," with the ticker symbol "GXRP" remaining unchanged. Ripple will make a strategic investment in the product, though the amount was not disclosed.
Bitwise acquired ETC Group, a digital asset investment firm managing $1 billion in assets, in August this year. Its product lineup includes the Bitcoin ETP (BTCE), staking-enabled Ethereum (ET32), Solana (ESOL), MSCI Digital Assets Select 20 (DA20), and GXRP. The company stated that it now manages over $10 billion in total client assets and plans to launch additional institutional-grade crypto ETP products.
