Bitwise XRP ETF Sees Massive First Day of Launch With Nearly $22M in Trading Activity

The newly launched XRP ETF by Bitwise saw impressive investor activity in the market after it launched yesterday. The fund has managed to post nearly $22 million in trading volume within hours of going live.

Bitwise XRP ETF Posts a Strong Opening Session

Bloomberg ETF analyst James Seyffart noted that Bitwise’s spot XRP fund recorded almost $22 million in volume. It even had more than two hours of trading still remaining on its first day.

Seyffart termed the turnout as “impressive.” This is especially considering Bitwise entered the market a full week after the successful rollout of Canary Capital’s XRPC fund.

Today’s launch came after the firm confirmed earlier that its spot fund would list on NYSE Arca under the ticker XRP. The company manages around $15 billion in assets and described the launch as a historic moment.

Ripple CEO Brad Garlinghouse welcomed the development and congratulated the firm. He joked that a “pre-Thanksgiving turkey trot” for the XRP funds had now begun.

The asset manager’s CIO also shared his excitement in a post right after the launch.

“Very excited to launch the Bitwise XRP ETF. What a journey for this asset and this community. Excited to see what’s next,” he said.

That’s on the back of a record-breaking debut from the Canary XRPC ETF. The fund launched last week and pulled in $59 million in first-day trading volume and $245 million in net inflows. This made it the strongest ETF debut of 2025 among more than 900 launches.

Bitwise’s own product is also drawing in capital quickly. Per SoSoValue, the fund recorded over $105 million in inflows during its early trading window.

XRP ETF Ticker Starts Debate Among Users

The firm’s decision to use “XRP” as its official ticker sparked debate within the crypto community. Crypto ETFs usually contain the branding of the issuer and an abbreviated reference to the asset.

A community member pointed out that analysts and educators may have some more explaining to do now in differentiating between XRP the token and XRP the ETF.

Matt Hougan said the choice of ticker was by design and not an accident.

The launch by Bitwise will be just one of the various XRP funds yet to go live. Many experts still anticipate more spot XRP ETFs to go live in the coming days. The launches will bring institutional inflows into XRP. This is particularly important as the asset looks to recover from its recent price downturn.

Among the upcoming issuers are names including Franklin Templeton and Grayscale. The products are due to be launched on November 24.