Bitcoin and XRP enter Wall Street as 'mainstream assets' through NYSE-listed funds

Source: TokenPost Original Title: Bitcoin and XRP Enter Wall Street via NYSE-Listed Fund, Emerging as ‘Mainstream Assets’ Original Link: https://www.tokenpost.kr/news/blockchain/312952

Content Overview

Bitcoin ((BTC)) and XRP, the token of Ripple, are expanding their access to traditional financial markets through NYSE Arca ((NYSE Arca)). “Bitwise 10 Crypto Index Fund” ((BITW)), operated by US crypto asset management firm Bitwise, was listed on NYSE Arca after receiving regulatory approval, further strengthening the status of these two major cryptocurrencies.

Significance of the Fund Listing

Bitwise stated that this fund listing is a “turning point” achieved after 8 years of preparation. The BITW fund includes the top 10 cryptocurrencies by market cap, with weights adjusted monthly. According to the current allocation, Bitcoin has the largest share at 74.34%, Ethereum ((ETH)) at 15.55%, and XRP ranks third at 5.17%.

The listing of BITW signifies that cryptocurrencies are being further integrated into mainstream financial markets. Through this listing, regular stock investors can indirectly invest in Bitcoin or XRP without using separate wallets or exchange accounts. Wall Street’s attitude toward cryptocurrencies has shifted from “experimental assets” to “profitable assets.”

XRP’s Market Performance

XRP’s upward momentum is reflected in its independent ETF inflow data. As of December 8, the spot ETF product based on XRP saw an inflow of $38.04 million in a single day, with cumulative net inflows reaching $935 million. The total assets of the ETF amount to $924 million, and XRP is currently trading at approximately $2.09.

Bitwise’s Expectations

Bitwise hopes that BITW can become a “convenient investment gateway” for cryptocurrencies. Investors do not need to select individual tokens or track the real-time market, but can instead invest through an index-based portfolio that considers security and liquidity. In addition, the fund carefully screened assets for regulatory, security, and compliance factors prior to listing.

Market Outlook

With this NYSE Arca listing opportunity, Bitcoin and XRP are further strengthening their ties with traditional finance, increasing accessibility for institutional and retail investors. In particular, indirect investment through ETFs will accelerate the acceptance of cryptocurrencies and may bring additional capital inflows.