Bitwise officially launched its spot XRP ETF today, marking a significant milestone in the growth of regulated XRP investment products in the U.S. The fund, listed on the New York Stock Exchange under the ticker XRP, offers investors direct exposure to XRP, at a time when interest in the asset has surged following the conclusion of Ripple’s legal battle with the SEC. With this launch, Bitwise joins Franklin Templeton, Grayscale, and 21Shares in the first wave of institutional XRP offerings.
Bitwise Offers Fee Waiver at Launch
The ETF carries a management fee of 0.34%, but Bitwise is waiving this fee for the first month on the initial $500 million in assets. The company says the waiver is intended to lower entry barriers for both retail and institutional investors looking to access XRP through a regulated vehicle.
Bitwise’s new spot XRP ETF holds XRP directly, marking the firm’s second XRP-focused product after its European-listed GXRP ETP launched in 2022. The launch adds to Bitwise’s portfolio of over 40 crypto investment products, managing more than $15 billion in assets and underscoring its long-term commitment to delivering institutional-grade crypto exposure.
XRP’s Utility Drives Investor Interest
Bitwise executives say XRP’s appeal extends well beyond speculation. Chief Investment Officer Matt Hougan highlighted XRP’s long operational history, low transaction fees, and engaged community, which distinguish it among digital assets. He also noted that growing regulatory clarity in the U.S. now provides XRP a level playing field.
XRP remains the third-largest cryptocurrency, with a market capitalization exceeding $120 billion. Since its launch, the XRP Ledger has processed over four billion transactions, settling payments in 3–5 seconds, with an average daily trading volume of $1.9 billion. These attributes continue to attract payment firms and institutions seeking efficient settlement solutions.
Beyond simple token transfers, the XRP Ledger is increasingly used for asset tokenization, including U.S. Treasuries, commercial paper, private credit instruments, and money market funds. XRP is required for all ledger activity, from wallet reserves to trustline setups, giving the token a central role in the ecosystem’s long-term functionality.
Competition Heats Up in XRP ETF Market
Bitwise’s launch intensifies competition among issuers, with Franklin Templeton, Grayscale, and 21Shares all expected to debut XRP ETFs in the near term. The flurry of upcoming launches reflects growing expectations of strong institutional inflows into XRP, as investors diversify beyond Bitcoin and Ethereum.
Bitwise CEO Hunter Horsley described digital assets as “earning a permanent role in diversified portfolios.” The new ETF provides a regulated, straightforward way for investors to tap into XRP’s global payment capabilities. With today’s launch, Bitwise secures its position in the early wave of U.S. XRP ETFs, setting the stage for increased liquidity and heightened market activity. XRP appears poised for one of its most active periods in years.
