WisdomTree, a prominent New York-based asset management firm overseeing $113 billion in assets, has filed for an XRP exchange-traded fund (ETF) with Delaware authorities.

Ripple, the blockchain giant, is backing Bitwise Asset Management’s revamped Physical XRP ETP, now trading under the ticker GXRP. The rebranding is part of Bitwise’s overhaul of its European product line following its August acquisition of the ETC Group.

Long-term holders of XRP realized over $1.5 billion in profits last week as the payments-focused cryptocurrency zoomed to a three-year high, data shows, marking the highest profit realization since April 2021.