Industry description
The investment seeks to provide exposure to the value of XRP held by the Trust, less the expenses of the Trust’s operations and other liabilities.
In seeking to achieve its investment objective, the trust will hold XRP and establish its net asset value (“NAV”) by reference to the CME CF XRP – Dollar Reference Rate – New York Variant (“Pricing Benchmark”). The trust is sponsored and managed by Bitwise Investment Advisers, LLC (the “Sponsor”).