Overview
- Roughly 1.14 million shares of the Bitwise XRP fund changed hands on Nov. 20 for about $25 million in volume, according to exchange data.
- The ETF holds physical XRP with Coinbase as custodian and uses the CME CF XRP-Dollar Reference Rate for valuation.
- Bitwise is waiving its 0.34% management fee for the first month on up to $500 million in assets to attract early investors.
- The launch coincided with a broad sell-off that saw Bitcoin hit $87,000 and the S&P 500 shed about $1.5 trillion intraday, while XRP traded near $1.92 with realized losses at the highest since April 2025.
- Canary Capital’s XRPC posted a larger first-day tally at about $58.5 million last week, and additional U.S. spot XRP ETFs are planned, including Franklin Templeton and Grayscale offerings slated for Nov. 24.