BitWise stands in the list of early pioneers who backed the launch and surged adoption of the Bitcoin spot ETF. As per a

filing dated September 30, 2024, BitWise is planning to debut its XRP ETFs, with a statutory trust named “BitWise XRP ETF”. 

While talking to a crypto media outlet, a spokesperson for BitWise authenticated the documents and news about the upcoming ETF. The registration of CSC Delaware Trust Company is regarded as the foremost step followed by the company; later it can file a formal application with the Security and Exchange Commission of the United States. 

Earlier on November 14, 2023, some bad actors filed a bogus filing named “iShare XRP Trust,” following the news at that time XRP price surged nearly 13%. However, later the rumor was denied by the people aware of the fact. 

Despite the news, XRP seems to be following the negative sentiment of the border market; the ongoing tension between Iran and Israel has been regarded as a major reason behind the bloodbath of the market. In the past 24 hours crypto Market capitalization fell more than 4% reaching $2.18 trillion. 

Other Market News Updates 

Earlier on October 01, 2024 Today reported that Ripple, the leading payment and blockchain service provider, has secured regulatory approval in UAE to establish its operations in the region. 

On the same day Robinhood, a known crypto service provider, noted that it is set to offer its crypto transfer services of 20 cryptocurrencies including Bitcoin, Ethereum, USD Coin (USD), and Solana (SOLO) in Europe. 

“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” the vice president of Robinhood noted in the announcement. 

Crypto Market Spot ETFs & TVL Updates

According to data from SoSoValue, the Bitcoin spot ETFs in the United States saw an outflow of $242. 53 million the outflow list is ruled by FBTC followed by ARKB, BITB, and HODL. However, the IBIT ETF by BlackRock mirrored an inflow of $40.84 million as of October 1, 2024. 

As of October 1 the total intraday net inflow of Ethereum ETFs was $-48.52 million, ETHE by Grayscale led the outflow list bleeding -$26.64 million, FETH lost -$24.79 million. 

Data from CoinGecko notes that the Total Value Locked (TVL) was $80.9 billion as of writing, registering a decline of 4.00% in the past 24 hours. The TVL of DKF Chain saw a decline of 14.9% reaching $3,540,326, followed by Oraichain at $5,236,354 falling 13.26%. 

The TVL of Degan grew 184.1% reaching $956,701 followed by ZetaChain, Iota EVM, Huobi ECO Chain Mainnet, Oasys, Etherlink, and Kadena. Ethereum chain dominates 57.80% of the entire market with $46,818,957,731 in TVL followed by TRON, Solana, and B&B Smart Chain. 

Crypto Market Price Updates

Until publishing the cryptocurrency market capitalization was $2. 17 trillion the reason is the same because the tension between Iran and Israel has troubled almost every sector. 

The fear and greed index was at 39 reflecting fear sentiment in the market. Bitcoin fell 3.88% reaching $ 61, 540 in the past 24 hours Ethereum lost over 6.50% reaching $2,467.