🔴 Bitwise XRP ETF is trading 3.2% down today on Fed's hawkish stance and broad crypto weakness

Bitwise XRP ETF is trading 3.2% down at $13.20, extending its pullback after a sharp jump on June 15 and continued weakness on June 16.

• The decline aligns with a broader risk-off tone in equities after the Federal Reserve signaled a higher-for-longer interest rate stance, pressuring high-beta assets.
• The move is mirrored in the underlying crypto market, with spot XRP trading down approximately 2.9%.
• Continued weakness follows a period of volatility as investors recalibrate expectations for monetary policy and its impact on crypto-related investment vehicles.