Two of the biggest players in digital asset management, Bitwise and Grayscale, have revealed management fees for their upcoming cryptocurrency exchange-traded funds (ETFs) tracking XRP and Dogecoin — even as both firms prepare to move ahead without formal approval from the U.S. Securities and Exchange Commission (SEC).
According to recent filings, Bitwise plans to charge a 0.34% annual fee for its Bitwise XRP ETF. Grayscale, meanwhile, set a 0.35% fee for its own XRP ETF and for a separate Dogecoin ETF. The disclosures come as the firms continue to expand their lineup of crypto-based ETFs despite ongoing regulatory uncertainty.
Last week, both companies successfully launched funds tied to Solana (SOL). Bitwise’s Solana ETF drew a remarkable $56 million in inflows on its first day — the strongest debut of any ETF in 2025 so far. Other asset managers, including Canary Capital, have also joined the race with new funds tracking Litecoin and Hedera Hashgraph (HBAR).
Moving Forward Without SEC Sign-Off
In an unconventional move, Grayscale is reportedly using the same legal and procedural framework that allowed it to launch its Solana ETF without explicit SEC approval. The company may do the same with its XRP ETF, effectively allowing the fund to go live after required filings take effect automatically. Bitwise has not publicly commented on its strategy.
The timing may be strategic. The SEC is currently operating with limited staff due to what has become one of the longest government shutdowns in U.S. history. Under its shutdown contingency plan, many routine activities — including new ETF reviews — are suspended. However, just before the shutdown began on October 1, the agency approved new listing standards that could streamline the launch process for dozens of crypto ETFs.
Under current rules, firms can submit final S-1 registration statements without a “delaying amendment.” This allows a fund to automatically go effective after 20 days unless the SEC intervenes — effectively opening a pathway for ETFs to begin trading even without active approval.
Industry Sees a Milestone Moment
Market analysts say the pending launch of XRP ETFs could mark a symbolic turning point for crypto investment products in the U.S.
“The launch of spot XRP ETFs represents the final nail in the coffin of previous anti-crypto regulators,” said Nate Geraci, president of NovaDius Wealth Management, in a post on X.
He noted that the SEC had been in litigation with Ripple — the company behind XRP — for five years until just three months ago.
Sometime in next two weeks, I expect launch of first spot xrp ETFs…
— Nate Geraci (@NateGeraci) November 3, 2025
SEC had open litigation against Ripple for past five years, up until three months ago.
IMO, launch of spot xrp ETFs represents final nail in coffin of previous anti-crypto regulators.
Have come a *LONG* way.
If these ETFs move forward, they could signal growing confidence among issuers and investors that the regulatory environment for crypto assets is slowly easing, even if official guidance remains murky.
