The cryptocurrency market is currently abuzz with the launch and anticipation of several spot Exchange-Traded Funds (ETFs) tied to XRP, marking a significant step in mainstream adoption for the digital asset. As investment firms secure approvals and analysts predict imminent launches, XRP ETFs are quickly becoming a focal point for investors seeking regulated exposure.
A Wave of Anticipation for XRP ETFs
The coming days are poised to be particularly eventful for XRP, with multiple prominent financial institutions preparing to debut their spot XRP ETFs. Bloomberg Intelligence analysts, James Seyffart and Eric Balchunas, have indicated that Grayscale and Franklin Templeton's U.S. spot XRP ETFs are expected to launch around November 24th and the upcoming Monday. Further solidifying this trend, investment management firm 21Shares has already secured approval for its XRP ETF, which is slated to begin trading on the Cboe BZX exchange next week under the ticker "TOXR." This flurry of activity, dubbed a "pre-Thanksgiving rush" by Ripple CEO Brad Garlinghouse, clearly signals a growing institutional interest in XRP.
Impressive Market Debuts and Strong Demand
The initial performance of recently launched XRP ETFs underscores the strong market demand and investor confidence. The Bitwise XRP ETF, trading as $XRP on the NYSE, made a notable debut with $25.7 million in trading volume and an impressive $107.6 million in inflows, alongside a competitive 0.34% management fee that is waived for the first month on the initial $500 million in assets. Even more remarkably, Canary Capital’s XRPC, recognized as the first U.S. XRP spot ETF, achieved an outstanding $58.5 million in trading volume during its first week – setting a record for the highest debut of any ETF launched this year across over 900 funds. These figures collectively highlight the significant appetite from investors for regulated XRP exposure and the positive market reception to these new financial products.
