TLDR Bitwise XRP ETF recorded $18 million in inflows on a single day, bringing the total to $135 million within three days. The fund holds 77.14 million XRP, worth $168.68 million at current market prices, backing each ETF share. Bitwise’s XRP ETF is one of several spot ETFs tied to XRP, which collectively have $644.64 [...] The post Bitwise Celebrates Strong Start for XRP ETFs with $18 Million Inflows appeared first on CoinCentral.TLDR Bitwise XRP ETF recorded $18 million in inflows on a single day, bringing the total to $135 million within three days. The fund holds 77.14 million XRP, worth $168.68 million at current market prices, backing each ETF share. Bitwise’s XRP ETF is one of several spot ETFs tied to XRP, which collectively have $644.64 [...] The post Bitwise Celebrates Strong Start for XRP ETFs with $18 Million Inflows appeared first on CoinCentral.
Bitwise Celebrates Strong Start for XRP ETFs with $18 Million Inflows
TLDR
- Bitwise XRP ETF recorded $18 million in inflows on a single day, bringing the total to $135 million within three days.
- The fund holds 77.14 million XRP, worth $168.68 million at current market prices, backing each ETF share.
- Bitwise’s XRP ETF is one of several spot ETFs tied to XRP, which collectively have $644.64 million in net assets.
- The fund has attracted strong interest from institutional and retail investors looking for regulated exposure to XRP.
- Other XRP ETFs, including those from 21Shares, CoinShares, and WisdomTree, are expected to launch soon.
Bitwise CEO Hunter Horsley has celebrated the impressive start of the firm’s newly launched XRP ETF. The ETF, which began trading on NYSE Arca last week, has seen substantial investor interest. According to Horsley, the fund recorded $18 million in inflows the previous day, bringing its total to approximately $135 million over the first three days.
Strong Demand for the Bitwise XRP ETF
The Bitwise XRP ETF (XRP) has quickly gained market traction. Despite the current bearish trends in the cryptocurrency space, the fund has attracted significant attention from both institutional and retail investors. Horsley noted that the ETF’s early performance underscores the growing demand for regulated exposure to XRP.
The fund’s impressive $18 million in single-day inflows reflects investors’ increasing preference for this type of exposure. “We are grateful to investors who have chosen Bitwise as their manager for XRP exposure,” said Horsley in his post on X. The firm will continue to acquire more XRP to back the ETF shares as demand grows.
New XRP ETFs Expected to Launch Soon
As of November 24, the Bitwise XRP ETF holds 77.14 million XRP, valued at $168.68 million based on current market prices. 11.19 XRP backs each ETF share, providing investors direct access to XRP, the fourth-largest cryptocurrency by market capitalization. This structure allows investors to benefit from price movements in XRP without holding the digital asset directly.
Bitwise’s XRP ETF is one of several spot ETFs offering exposure to XRP. Other products include the Canary XRP ETF (XRPC), Grayscale XRP Trust ETF (GXRP), and Franklin Templeton XRP ETF (XRPZ). Together, these ETFs recorded a net inflow of $35.41 million on the same day, bringing their total assets to $644.64 million.
Several other XRP ETFs are still pending approval, including those from 21Shares, CoinShares, and WisdomTree. Analysts expect these funds to launch in the near future, expanding the market for XRP-based ETFs. The ongoing rise in demand for these products suggests growing investor confidence in regulated XRP exposure.
The post Bitwise Celebrates Strong Start for XRP ETFs with $18 Million Inflows appeared first on CoinCentral.
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