XRP surged 7.7% on Sept. 18, climbing from about $1.30 to $1.40 and briefly reaching roughly $1.41, on the same day fresh Bitwise XRP ETF paperwork appeared at the Securities and Exchange Com
XRP surged 7.7% on Sept. 18, climbing from about $1.30 to $1.40 and briefly reaching roughly $1.41, on the same day fresh Bitwise XRP ETF paperwork appeared at the Securities and Exchange Commission.
But the filing did not represent a new ETF approval.
Bitwise submitted a Post-Effective Amendment No. 2 for its existing Bitwise XRP ETF. The official SEC filing describes the document as a preliminary prospectus dated Sept. 18 and explicitly says the information remains subject to completion.
Historical market data show XRP opened near $1.296, reached an intraday high around $1.413 and closed near $1.396, a gain of approximately 7.69% for the day.
Bitwise Already Has an XRP ETFThe most important detail is easy to miss: this was paperwork for an existing product, not an application for Bitwise's first XRP fund.
The SEC filing identifies the Bitwise XRP ETF as an exchange-traded product listed on NYSE Arca under ticker XRP, with the objective of providing exposure to XRP held by the trust.
Its accounting consent even refers to financial statements covering the period beginning Nov. 19, 2025, when operations commenced, confirming the fund was already operating well before this month's amendment.
That is why “Bitwise files for an XRP ETF” would be inaccurate.
Coinpaper has seen the same problem with other regulatory documents. A recent Volatility Shares filing moved the effective date of a planned 3x XRP fund without confirming a trading launch, while ProShares XRP paperwork similarly showed how routine fund disclosures can be mistaken for new approvals.
Claim What actually happened Bitwise filed XRP ETF paperwork Yes Filing date Sept. 18, 2026 New ETF approved No First Bitwise XRP ETF filing No XRP move that day +7.7% Intraday XRP high ~$1.41 XRP’s Rally Had a Bigger Market BackdropThe regulatory paperwork arrived during an already volatile period for XRP.
Only three days earlier, XRP had closed near $1.28 after falling from approximately $1.42, before beginning a recovery that eventually accelerated into Sept. 18. XRP then continued higher over the following sessions, reaching roughly $1.53 on Sept. 21.
Meanwhile, the broader XRP ETF market was already substantial. U.S. products had accumulated around $1.7 billion in historical net inflows by Sept. 17, even though XRP remained far below its all-time high. Coinpaper examined that unusual ETF-demand versus price divergence shortly before the Bitwise amendment appeared.
