Wall Street’s ETF disruptors are once again pushing regulators to open up the crypto boom to the masses after Bitwise Asset Management Inc. became the first to file for a fund that invests directly in XRP,

Bitwise Asset Management has made the first Securities and Exchange Commission filing seeking approval to launch an exchange-traded fund holding [Ripple Labs](

Crypto asset manager Bitwise has filed an initial registration statement with the U.S. SEC for an exchange-traded product for XRP tokens, as it seeks to introduce more crypto products after a landmark regulatory decision to approve spot bitcoin ETF earlier this year.

Crypto fund manager Bitwise has filed for a spot XRP ETF (exchange-traded fund) that would allow investors to gain exposure to Ripple’s native XRP token. The Bitwise XRP ETF was incorporated on Sept. 30 with CSC Delaware Trust Company listed as the registered agent, according to the filing.

Bitwise's filing acknowledges the risk that the Securities and Exchange Commission (SEC) could win an appeal to reverse a court decision that would allow it to regulate XRP as a security.