Bitwise Asset Management has announced the launch of its spot XRP exchange-traded fund (ETF) on the New York Stock Exchange, marking another milestone in the growing wave of regulated altcoin investment products. The fund begins trading under the ticker XRP, with a management fee of 0.34%, which will be waived for the first month on the first $500 million in assets.
Big news: The Bitwise XRP ETF is set to begin trading on NYSE tomorrow with the ticker $XRP.
— Bitwise (@BitwiseInvest) November 19, 2025
It has a management fee of 0.34%, which is waived for the first month on the first $500M in assets. This product brings investors spot exposure to XRP, the crypto asset that aims to… pic.twitter.com/0GLR37NnuI
According to the firm, the Bitwise XRP ETF will hold spot XRP, a cryptocurrency that powers the XRP Ledger, a blockchain network built for efficient exchange, tokenization, and settlement of both crypto-native and traditional assets. XRP currently stands as the world’s third-largest non-stablecoin cryptocurrency, boasting a market capitalization of $127.9 billion, according to CoinMarketCap data. The XRP Ledger has also facilitated over 4 billion transactions, highlighting its capacity for high throughput and low-cost transfers.
“XRP is a really intriguing asset for several reasons,” said Matt Hougan, Chief Investment Officer at Bitwise Asset Management. “It has operated successfully for a very long period of time at extremely low cost, it processes high transaction volumes, and it has a really strong and vibrant community of supporters. In the new crypto-forward regulatory regime, XRP stands on an equal playing field with other digital assets. Now the market will have the opportunity to see what XRP can really do.”
Expanding investor access to XRP
The new XRP ETF marks Bitwise’s second investment product focused on the cryptocurrency. The company previously launched the Bitwise Physical XRP ETP (GXRP) in Europe, which provided direct, physically backed exposure for investors in the region. With its U.S. debut, Bitwise becomes the second issuer of a spot XRP fund in the country, following Canary Capital’s XRPC, which launched earlier this week. Canary’s fund recorded robust investor demand, accumulating over $276.8 million in net inflows shortly after its release.
Bitwise’s launch underscores growing institutional interest in diversifying crypto exposure beyond Bitcoin and Ethereum through regulated products. Hunter Horsley, CEO of Bitwise Asset Management, said:
“In 2025, we're watching digital assets take on real utility in the global economy—whether that's powering payments, building infrastructure, or earning a permanent role in diversified portfolios. With today's launch of the Bitwise XRP ETF, we're excited to help investors gain exposure to an asset that has the potential to fundamentally reshape how money moves worldwide.”
Rising demand for spot altcoin ETFs
The debut of Bitwise’s XRP product coincides with what analysts are calling an “ETF rush.” Over recent months, the U.S. market has seen an accelerated rollout of exchange-traded funds offering direct exposure to altcoins such as Solana, XRP, Litecoin, and Hedera.
Bloomberg Analyst James Seyffart noted on social media that several more XRP-related funds are expected to launch in the coming days, including those from Grayscale and Franklin Templeton, which could go live as early as next Monday. He wrote:
“And I think Franklin Templeton’s XRP ETF could go live on Monday the 24th as well. Lots happening next week.”
The surge in ETF activity follows clearer guidance from the U.S. Securities and Exchange Commission (SEC), which has streamlined the process for firms introducing spot crypto ETF products. This change has encouraged asset managers to move quickly to capture early market share without requiring explicit approval from the agency for each product.
Among altcoin ETFs, Solana products have shown the strongest momentum so far, with six spot Solana ETFs live since late October and total net inflows surpassing $420 million.
Broader implications for XRP and the ETF market
The proliferation of XRP-focused ETFs marks a shift in how institutional investors can engage with the asset. By enabling exposure through regulated channels, these funds reduce the need for direct self-custody or interaction with crypto exchange, an important consideration for large financial institutions and hedge funds restricted by policy mandates.
While some analysts caution that the rapid timing of launches may add short-term volatility, others view the trend as a structural step forward for the digital asset market. The expansion of regulated access could enhance XRP’s liquidity profile and strengthen its long-term role in both traditional and decentralized finance networks.
With multiple issuers entering the market and growing investor participation, the debut of the Bitwise XRP ETF contributes to a pivotal moment for altcoin adoption, signaling broader institutional engagement across the crypto landscape.
Kataryna Dyl
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