Ripple CEO Brad Garlinghouse has taken to the X social media network to note that XRP ETFs have become the fastest products to reach $1 billion in assets under management (AUM) in the U.S. since Ethereum-based ones.
According to Garlinghouse, there is pent-up demand for regulated crypto products.
With platforms like Vanguard enabling access to these ETFs through traditional retirement and brokerage accounts, millions of Americans can now get exposure to cryptocurrencies.
As reported by U.Today, Garlinghouse recently predicted that the overall share of crypto within the ETF market will increase significantly. The Ripple CEO had rejected the notion that the recent ETF enthusiasm was merely hype.
Current leaders
A total of 477.93 million XRP is currently held in custody across several U.S. crypto ETFs.
Canary Capital leads the group, holding 166.1 million XRP, the largest amount among the ETFs.
Grayscale follows with 104 million XRP, then Bitwise with 91.8 million, Franklin Templeton with 63 million, and REX-Osprey with 53 million XRP. Combined, these five ETF issuers account for the full 477.93 million XRP currently locked in ETFs.
The combined daily trading volume for XRP ETFs is roughly $14.98 million at press time.
Franklin Templeton’s XRPZ leads with $4.57 million traded (201.75K shares), followed by Canary Capital’s XRPC at $4.17 million (187.95K shares). Bitwise XRP has $3.40 million traded (145.50K shares), REX-Osprey XRPR is at $1.79 million (104.50K shares), and Grayscale GXRP has the remaining portion of the volume.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team