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It is a big day for XRP in the U.S. as another pure-play 33 Act XRP ETF launches in the U.S. In a recent tweet, asset manager Bitwise informed the crypto community that the Bitwise XRP ETF with ticker $XRP began trading on the NYSE this morning. With the launch, investors are afforded another new way to get spot exposure to XRP.
The Bitwise XRP ETF launch comes exactly a week following Canary Capital's XRP ETF XRPC, which saw its debut on Nov. 13.
In a tweet, Ripple CEO Brad Garlinghouse reacted to the milestone. Congratulating Bitwise on the ETF launch, the Ripple CEO added: "The pre-thanksgiving rush (shall we say turkey trot) for XRP ETFs starts now."
A couple of XRP ETFs are anticipated in the coming days. Bloomberg Intelligence analyst James Seyffart predicts that next week might be eventful as the Grayscale and Franklin Templeton U.S. ETFs are expected to go live on Nov. 24.
Seyffart wrote in a tweet: "Our base case is that Grayscale's XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF. And I think the Franklin Templeton's XRP ETF could go live on Monday the 24th as well." He added, "Lots happening next week."
XRP breaking barriers
Canary Capital’s XRPC, the first U.S. XRP spot exchange-traded fund (ETF), marked an impressive debut last Thursday with $58.5 million in trading volume, which is the highest for any ETF launched this year across more than 900 fund launches, according to Bloomberg's ETF analyst Eric Balchunas.
The volume edged out Bitwise’s Solana ETF (BSOL), which recorded $57 million on its first day, suggesting institutional interest in the XRP token.
The market is closely watching the performance of the new Bitwise XRP ETF in light of this. XRP remains in the spotlight, attracting increasing social interest.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team