Bitwise XRP ETF Nears $22M in Early Volume as the Fund Posts One of the Year’s Strongest Openings

Bitwise’s XRP ETF nears $22M in early volume, placing it among the strongest crypto ETF launches.

The fund records over $105M in early inflows while debate grows over the use of the “XRP” ticker.

More XRP ETFs from major issuers are set to launch, signaling rising institutional interest.

A new surge in XRP ETF activity continued today as Bitwise’s spot XRP fund moved toward $22 million in trading volume with more than three hours left in the session. The early turnout placed the product among the strongest crypto ETF openings of the year.

Bitwise XRP ETF Shows Strong Early Turnout

Bitwise’s spot XRP ETF moved toward $22 million in trading volume with a bit more than three hours left in the session. The turnout was described by analyst James Seyffart as “impressive,” as the fund came to market one week after the XRPC launch by Canary Capital. The XRPC debut led all ETF launches this year by volume.

The new Bitwise product trades on NYSE Arca under the ticker XRP. The firm manages around $15 billion and views the listing as an expansion of its crypto product range. The first session also attracted strong inflows. SoSoValue recorded more than $105 million during early trading.

Ripple CEO Brad Garlinghouse posted a message congratulating the firm. He referred to the activity as a “pre-Thanksgiving turkey trot” for XRP-linked funds. Bitwise CIO Matt Hougan also shared his thoughts. He said, “Very excited to launch the Bitwise XRP ETF. What a journey for this asset and this community.”

Ticker Debate and Expanding ETF Lineup

The choice of the “XRP” ticker drew debate among users because the name is also used for the token. Some traders said analysts may need clearer wording when comparing the token and the ETF. Hougan explained that the firm picked the ticker on purpose to keep the branding simple.

More XRP ETF products are expected to enter the market soon. Franklin Templeton and Grayscale plan launches on November 24. These arrivals may draw more institutional attention at a time when XRP faces recent price pressure.

The growing lineup shows rising interest in the sector. Seyffart noted that the early performance by Bitwise shows steady demand during the first session. The fund’s approach toward $22 million in volume with hours still open places it among the stronger crypto ETF debuts this year, even as the second product to reach the market after the XRPC launch.

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