Bitwise Spot XRP ETF Debuts Today as Trading Goes Live

Bitwise officially launched its spot XRP ETF today. This marks another major milestone in the rapid expansion of regulated XRP investment products in the United States. The new fund is trading under the ticker XRP on the New York Stock Exchange. It gives investors direct exposure to XRP. At a time when interest in the asset has surged following the end of Ripple’s legal battle with the SEC. The launch positions Bitwise alongside Franklin Templeton, Grayscale and 21Shares as part of the first wave of institutional XRP offerings.

Bitwise Opens Trading With Fee Waiver

Bitwise confirmed that the ETF carries a 0.34% management fee. Though the firm waived this fee for the first month on the first $500 million in assets. The company says the move is designed to lower barriers for retail and institutional investors. Those entering the XRP market for the first time through a regulated vehicle.

The Bitwise XRP ETF holds spot XRP directly. It becomes the firm’s second XRP focused product, following the European-listed GXRP ETP launched in 2022. Bitwise now manages more than $15 billion across over 40 crypto investment products. This reflects the company’s long-term commitment to building institutional-grade crypto exposure.

XRP’s Strong Use Cases Support ETF Demand

Bitwise executives say the appeal of XRP goes far beyond speculation. Chief Investment Officer Matt Hougan said XRP’s long operational history, low transaction fees and strong community. That makes it stand out among digital assets. He also emphasized that regulatory clarity in the U.S. now gives XRP a fair playing field.

XRP remains the third-largest cryptocurrency, with a market cap above $120 billion. Also, more than four billion transactions have been processed on the XRP Ledger since its launch. The network settles payments in 3-5 seconds. Its daily volume averages $1.9 billion. These features have helped XRP maintain strong support among payment firms and institutions looking for efficient settlement solutions.

The network is also growing beyond traditional token transfers. Businesses increasingly use the XRP Ledger to tokenize assets like U.S. Treasuries, commercial paper, private credit instruments and money market funds. XRP is required for all activity on the ledger, including wallet reserves and trustline setups. This gives the token a clear role in the ecosystem’s long-term functionality.

Market Sees Strong Competition Among XRP ETFs

Bitwise’s debut adds pressure to other issuers preparing their own XRP funds. Franklin Templeton, Grayscale and 21Shares all have ETFs expected to launch this week or soon after. The rush of simultaneous launches highlights the belief. That XRP could see strong inflows as institutions expand beyond Bitcoin and Ethereum.

Bitwise CEO Hunter Horsley said digital assets are “earning a permanent role in diversified portfolios.” The new ETF gives investors a simple, regulated path to participate in XRP’s global payment potential. With today’s launch, Bitwise cements its place in the early wave of U.S. XRP ETFs. As more issuers enter the market, analysts expect liquidity to deepen and investor interest to accelerate. This is setting up XRP for one of its most active periods in years.