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Why Bitwise XRP ETF Is Soaring Today

TheMotleyFool

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The Bitwise XRP ETF (NYSEMKT: XRP) is up 8.1% on Tuesday as of 3:02 p.m. ET. The jump comes as the S 500 gained 0.2% and the Nasdaq Composite gained 0.6%.

The newly launched spot XRP ETF is up after Vanguard gave the green light to trade crypto ETFs on its platform, as well as Federal Reserve Vice Chair Michelle Bowman's appearance before a key House committee.

Vanguard, the second-largest asset manager on the planet, has long been a skeptic of cryptocurrencies, viewing them as too risky and too speculative for its liking. Investors have been barred from trading crypto mutual funds and ETFs, like the Bitwise XRP ETF, on its platform.

Source Fool.com

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