- Ripple CEO celebrates Bitwise XRP ETF launch on NYSE today.
- XRP ETFs gain momentum with institutional interest and strong trading volumes.
- DTCC lists multiple XRP ETFs, signaling potential quick market debut.
Ripple CEO Brad Garlinghouse celebrated a significant milestone as Bitwise launched its XRP exchange-traded fund (ETF) on the New York Stock Exchange (NYSE). Trading under the ticker $XRP, the new ETF offers investors an opportunity to gain direct exposure to the spot price of XRP, marking a major step for the digital asset in traditional finance.
This launch comes at a time when XRP is experiencing renewed attention in the crypto community, thanks to increasing institutional interest.
Brad Garlinghouse took to X to congratulate Bitwise on the successful launch and noted that this marks the start of a “pre-Thanksgiving rush” for XRP-related ETFs. This announcement reflects the excitement among the broader crypto community, especially as it follows the recent debut of Canary Capital’s XRPC ETF.
XRP is now firmly in the spotlight, as these products could signal a new era of institutional adoption for the cryptocurrency.
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XRP ETFs Spark Institutional Interest as Trading Volumes Surge
Bitwise’s XRP ETF is following the strong debut of Canary Capital’s XRPC ETF, which saw an impressive $58.5 million in trading volume on its first day. This debut volume was the highest for any ETF, surpassing even Bitwise’s Solana ETF.
According to Bloomberg’s Eric Balchunas, this signals growing institutional interest in XRP, which could continue to fuel its rise in the coming months.
The XRPC ETF’s success has set high expectations for Bitwise’s product, and analysts are looking ahead to other XRP-focused funds. James Seyffart of Bloomberg Intelligence believes that Grayscale’s and Franklin Templeton’s XRP ETFs could launch by November 24, further boosting XRP’s presence in the market.
DTCC Lists Multiple XRP ETFs, Signaling Imminent Launches
The XRP community was filled with excitement after the Depository Trust and Clearing Corporation (DTCC) listed spot XRP ETFs under its “active and pre-launch” category. These funds include Franklin Templeton (XRPZ), 21Shares (TOXR), and CoinShares (XRPL).
The DTCC plays a crucial role in preparing ETFs for public trading, and its listing of these funds signals their readiness for launch. While it doesn’t guarantee SEC approval, the listing fuels optimism that these XRP ETFs could hit the market soon, especially following regulatory shifts in the U.S. that may accelerate the process.
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