XRP Jumped 7.7% on a Bitwise Filing That Didn’t Approve Anything New

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 ETF

The 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.