Ripple Leads XRPL Foundation Launch and Backs Bitwise XRP ETP

Introducing the XRPL Foundation

Ripple, along with three other founding members, has formed the XRP Ledger (XRPL) Foundation, established on November 26 in France. The organization aims to unite and oversee the broader XRPL ecosystem, including contributions from Ripple, XRPL Labs, XRPL Commons, and prominent members of the XRP community.

Goals of the XRPL Foundation

The foundation is committed to ensuring the XRPL's long-term growth, security, and decentralized evolution. It seeks to build an inclusive and thriving XRPL community where developers and users can access a trusted platform to create decentralized applications, financial tools, and blockchain infrastructure.

Governance and Reorganization Efforts

One of the group’s initial priorities is to reclaim assets from the previous XRPL Foundation. It also plans to introduce a governance model that represents a diverse array of stakeholders, including developers, users, validators, academics, and infrastructure providers. Board members from entities such as Ripple, XRPL Labs, XRPL Commons, and XAO DAO will guide the foundation’s strategic direction.

XRPL’s Growing Institutional Adoption

The XRPL blockchain has been gaining recognition for its scalability, affordability, and regulation compliance. It has become a preferred platform for tokenizing real-world assets (RWAs), drawing the attention of institutional players such as SG-FORGE, the cryptocurrency division of Societe Generale.

Ripple’s Investment in Bitwise XRP Fund

Backing Bitwise’s Physical XRP ETP

Ripple has further supported XRP’s adoption through a strategic investment in Bitwise’s newly rebranded Physical XRP Exchange-Traded Product (ETP). This product, previously known as ETC Group Physical XRP, provides European investors with exposure to XRP via a structure that holds the token directly.

Endorsements from Key Leaders

Bitwise CEO Hunter Horsley highlighted XRP’s reliability and unique position in the blockchain space, emphasizing its decade-long track record of stability and expanding capabilities. Ripple CEO Brad Garlinghouse also noted the increasing demand for crypto-backed investment products, attributing the trend to growing regulatory clarity in the US. He expressed optimism about the rising interest in products like the Bitwise Physical XRP ETP.