The Bitwise XRP alternate-traded fund made a solid debut with well-known first-day volume.
- Bitwise XRP ETF posts ~$25M first-day volume on NYSE debut.
- Fund is backed by right XRP held in Coinbase custody.
- XRP trades at $1.92 with on-chain losses on the perfect since April 2025.
The Bitwise XRP ETF (ticker: XRP) started procuring and selling on the Contemporary York Stock Alternate on Nov.20, giving U.S. customers a vogue to possess XRP without retaining the token themselves.
On its first day, 1.14 million shares had been traded at a median label of $22, adding as much as about $25 million in volume, as per data from NYSE. While early projections suggested first-day volume might surpass $90 million, the ongoing market stress tempered excellent results.
The ETF is bodily backed with space XRP (XRP) held in custody by Coinbase. To decrease the danger of manipulation, it compares its accumulate asset label to the CME CF XRP-Greenback Reference Rate – Contemporary York Variant, which aggregates procuring and selling from several exchanges.
To be able to scheme early customers, Bitwise is waiving its 0.34% management price for the first month on $500 million in sources below management. The fund is fragment of Bitwise’s suite of more than 40 crypto products, constructing on its European XRP alternate-traded product launched in 2022.
Ripple team strengthen and market ardour
The birth bought consideration from Ripple executives. Chief government officer Brad Garlinghouse known because it a “pre-Thanksgiving shuffle” for XRP ETFs and famed XRP’s position in imperfect-border payments.
Bitwise hosted a dwell dialogue with Ripple CTO David Schwartz, Bitwise CIO Matt Hougan, and journalist Eleanor Terrett. They discussed XRP’s dawdle, regulatory updates after the Securities and Alternate Fee settlement, and what it is going to also suggest for customers.
The Bitwise birth follows Canary Capital’s XRPC ETF, which became the pause-performing ETF debut of the one year with $58 million in first-day volume.
Extra U.S. space XRP ETFs are expected to birth over the coming weeks, at the side of offerings from Grayscale, Franklin Templeton, 21Shares, CoinShares, and WisdomTree. By the pause of 2025, alternate estimates uncover that these launches might elevate in $5–8 billion.
XRP label change
As of the time of writing, XRP became down roughly 10% over the day previous to this, procuring and selling at $1.92. In accordance to Glassnode’s on-chain data, XRP’s realized losses derive greatly elevated over the last month, averaging about $75 million per day.
That is the perfect level since April 2025 and means that a mammoth resolution of customers are closing positions at a loss. Traders are keeping a shut watch on both label action and the drift of incoming ETFs because the market waits for the subsequent lunge.
