Bitwise Launches Spot XRP ETF on the New York Stock Exchange

Bitwise launches XRP ETF on NYSE, while Solana ETFs see growth.

Fridah Kangai
November 21, 2025
12:30 am

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Bitwise launches spot XRP ETF on the New York Stock Exchange.
Grayscale’s spot XRP ETF could launch soon alongside Dogecoin ETF.
Solana ETFs gain momentum, raising $420.4 million in inflows.

Bitwise Asset Management has launched its spot XRP exchange-traded fund (ETF) on the New York Stock Exchange. The ETF, trading under the ticker “XRP,” will begin on Thursday. The management fee is set at 0.34%. The cost will, however, be free for the first month and the first $500 million in assets.

Matt Hougan, Chief Investment Officer of Bitwise, touted XRP, noting that it has a long history of low operating costs, high transaction volumes, and a dynamic community. He reported that XRP has risen to become the third-largest non-stablecoin cryptocurrency, with a market capitalization of $127.3 billion. The cryptocurrency has facilitated over 4 billion transactions and is making inroads into the cross-border payment sector.

Also Read: Bitcoin Faces Downward Pressure Amid Recent Price Drop

XRP ETFs Gaining Traction in the U.S.

The XRP ETF is the second Bitwise spot ETF in the United States. The XRPC of Canary Capital has only unveiled its product last week and has already gained net inflows of $276.8 million. Bitwise also introduced the Bitwise Physically-backed XRP ETP in Europe (GXRP), providing European investors with direct access to XRP through a physically backed product.

Grayscale is about to introduce its spot XRP ETF. Grayscale could launch its GXRP fund soon, possibly with its Dogecoin ETF, according to Bloomberg analyst James Seyffart. Additionally, there is the XRP ETF from Franklin Templeton, which may be launched as early as next Monday.

The recent growth of crypto ETFs in the U.S. is attributed to new rules issued by the Securities and Exchange Commission (SEC). Such rules enable issuers to issue crypto ETFs without requiring direct permission from the SEC. This has paved the way for ETFs that track other cryptocurrencies, such as Solana, Litecoin, and Hedera.

Solana ETFs Show Strong Growth

Although XRP ETFs are on the rise, Solana ETFs are also experiencing considerable growth. It has six Solana ETFs available in the U.S. Since their initial launch, these funds have attracted $420.4 million in net inflows. This suggests a notable interest in diversifying portfolios with non-Bitcoin and non-Ethereum digital assets.