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Bitwise XRP ETF Records Nearly $22M in Trading Activity on First Day of Launch
Bitwise XRP ETF received over $105 million in early inflows, generating nearly $22 million in trading activity within hours of its launch.
Bitwise XRP ETF, which was newly launched yesterday, drew strong investor interest after its launch. Within hours of its launch, the fund generated approximately $22 million in trading volume.
Bitwise XRP ETF Sees Strong Interest on Launch
Bloomberg ETF analyst James Seyffart reported that Bitwise's spot XRP fund saw around $22 million in trading. It even has more than two hours of trade left on its debut day.
Seyffart described the turnout as “impressive.” This is especially true given that Bitwise entered the market a whole week after the successful launch of Canary Capital's XRPC fund.
The firm previously confirmed that its spot fund would list on NYSE Arca under the ticker XRP, which was launched today. The organization handles over $15 billion in assets and referred to the launch as a historic event.
Ripple CEO Brad Garlinghouse hailed the development and complimented the company. He joked that the “pre-Thanksgiving turkey trot” for XRP funding had already begun.
This comes after the Canary XRPC ETF debuted with a record-breaking performance. The fund debuted last week, attracting $59 million in first-day trading volume and $245 million in net inflows. This makes it the most successful ETF debut of 2025 among over 900 debuts.
Bitwise XRP ETF product is also attracting funding swiftly. According to SoSoValue, the fund received more than $105 million in inflows during its early trading session.
XRP ETF Ticker Sparks Debate among Users
The firm's choice to adopt XRP as its official ticker caused discussion in the cryptocurrency world. Crypto ETFs typically include the issuer's logo and a brief reference to the underlying asset.
A community member stated on X that analysts and educators may need to clarify the differences between XRP, the cryptocurrency, and XRP, the ETF. Matt Hougan stated that the ticker pick was intentional rather than coincidental.
Bitwise's debut will be one of several XRP funds that have yet to go online. Many experts still expect more spot XRP ETFs to launch in the coming days. The launches will result in institutional inflows into XRP. This is especially critical when the asset rebounds from its recent price drop.
Some of the upcoming issuers include Franklin Templeton and Grayscale. The products are set to be released on November 24.