Bitwise XRP ETF Sees Strong Market Debut with Surging Trading Volume

Bitwise’s newly launched XRP exchange-traded fund made a powerful entrance into the market, drawing nearly $22 million in trading volume within hours of going live. The spot XRP ETF, which officially listed on NYSE Arca under the ticker XRP, quickly captured investor interest despite entering the market a full week after Canary Capital’s record-setting XRPC launch.

Bloomberg ETF analyst James Seyffart highlighted the fund’s rapid early performance, calling the turnout “impressive,” especially considering Bitwise was second to market. He noted that the ETF had already posted close to $22 million in volume with several hours left in its first trading session. Seyffart also pointed out the strong momentum generated by Canary’s XRPC ETF, which became 2025’s top ETF debut with $59 million in first-day trading volume and $245 million in net inflows.

Bitwise, which manages around $15 billion in assets, described the launch as a major milestone for the company and the XRP community. Ripple CEO Brad Garlinghouse also celebrated the ETF’s arrival, joking that the “pre-Thanksgiving turkey trot” for XRP funds had officially begun.

The excitement extended to Bitwise’s leadership as well, with the firm’s CIO noting the long journey XRP has taken to reach this moment and expressing optimism for what comes next. Early data from SoSoValue shows the fund has already attracted over $105 million in inflows, reinforcing its strong market reception.

The ETF’s choice of ticker—simply “XRP”—sparked debate among community members, with some noting it may create confusion between the token and the ETF. Bitwise confirmed the naming was intentional.

More XRP ETFs are expected to launch soon, including products from Franklin Templeton and Grayscale, both scheduled for November 24. These upcoming funds are anticipated to bring additional institutional inflows, offering further support as XRP attempts to rebound from recent price declines.