[Bitwise Updates XRP ETF Application And Submits New S-1 Filing] According To Crypto Briefing, Bitwise Has Updated Its Application For The Launch Of An XRP ETF By Submitting A New S-1 Registration Filing To The U.S. Securities And Exchange Commission (SEC). The New Filing Was Released Today. The Latest Filing Details The Trust's Structure, Custody Arrangements, And Share Creation And Redemption Mechanisms. The Document Outlines That The XRP Custodian Will Primarily Use Cold Storage To Hold The Trust's Assets, And Will Transfer A Small Amount Of Assets To Hot Storage As Needed For Efficient Basket Creation And Redemption. The XRP Custody Agreement Ensures That The Trust's Assets Are Isolated From The Custodian's Other Holdings, Thereby Enhancing The Security Of Private Keys Associated With XRP. In Order To Efficiently Execute Transactions, Bitwise Has Appointed A Chief Execution Agent Who Will Facilitate XRP Transactions On Multiple Trading Platforms Including Bitstamp, Kraken, Coinbase, And LMAX. Bitwise Acknowledges The Regulatory Uncertainty Facing XRP, Especially Given That The SEC's Appeal Of The Ripple Ruling Is Still Ongoing. The Company Has Been Transparent About Potential Risks, Noting That If XRP Is Classified As A Security, The Trust Could Be Forced To Liquidate Its Holdings Under The Trust Agreement. The Company Has Included Safeguards In Updated Filings To Protect Investors And Ensure Compliance With Federal Securities Laws. The Updated Filings Confirm That Coinbase Global, Which Is Associated With Both The Chief Executive Agent And XRP Custodian, Holds A Commercial Crime Insurance Policy That Covers A Range Of Risks, Including Theft, Fraud, And Cyber Attacks. However, Bitwise Clarified That The Insurance Is Shared By All Coinbase Customers And May Not Be Sufficient To Cover All Potential Losses Faced By The Trust. Previously, Asset Management Company Bitwise Applied For An XRP Spot ETF