The spot XRP ETFs have continued to make waves with massive daily inflows and trading volume since the launch of the first product, and today is not an exception.
Recent intraday data shared by popular crypto analyst Chad Steingraber shows that all five listed XRP ETFs have pulled in $21.12 million in combined trading volume within just a few hours.
While the XRP ETFs have continued to record strong performances since their emergence, the volume recorded today is impressive but decently low compared to previous days. This suggests that investors have remained confident in the product.
The five XRP ETFs that have launched recently are U.S.-based products that give investors pure, direct exposure to XRP. With these products, entities can invest in XRP without having to actually hold the tokens directly.
Franklin Templeton XRP ETF takes lead
Further data shared by the analyst shows that the Franklin Templeton XRP ETF has recorded the strongest intraday performance among all five XRP ETFs. Notably, the XRPZ ETF led the market with $6.34 million in trading volume from 267,864k shares.
Followed by Franklin, the second strongest performing fund for the day is Canary’s XRPC ETF, which posted a trading volume of $5.63 million on 242,079k shares within the same period.
Notably, this was followed by Bitwise’s XRP ETF with $5.20 million across 212,668k shares. Furthermore, the remaining two XRP ETFs issued by REX-Osprey and Grayscale achieved $1.99 million and $1.96 million in trading volume respectively.
More XRP ETFs gearing for launch
With the already listed XRP ETFs consistently making waves with strong daily performances, more ETFs are expected to join the pack in the coming days, propelling XRP toward more institutional adoption.
With the growing buzz surrounding the XRP ecosystem, three more XRP ETFs, including 21Shares, CoinShares, and WisdomTree, are lined up for the next listings.
While this move has continued to garner momentum for XRP, bolstering its appeal among institutions, holders are confident that the surging institutional demand could position the token for an explosive rally soon.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team