Bitwise Calls Today’s XRP ETF Launch on NYSE Arca a “Historic Moment”
Bitwise has officially launched its spot XRP ETF on NYSE Arca, calling the debut a landmark event for XRP and the broader digital asset market. The fund begins trading today under the ticker “XRP,” becoming the second spot XRP ETF to hit the U.S. market.
🔑 Key Highlights:
✅ Bitwise says the XRP ETF launch is a “historic moment” for the asset
✅ Trading begins today on NYSE Arca under the ticker XRP
✅ 0.34% management fee waived for the first month on the first $500M AUM
✅ XRP price rebounds after dropping 9% during ETF hype
Why it matters:
Bitwise, a $15B crypto asset manager, says this launch marks a major step forward for XRP now the world’s third largest crypto asset by market cap. The firm is hosting a live X Space with Ripple CTO David Schwartz and Bitwise CIO Matt Hougan today to discuss the significance of the ETF, XRP’s payment use cases, and how traditional finance is evolving.
With the ETF becoming auto effective via Form 8 A and CERT filings, NYSE Arca approved the listing under XRP, giving institutions and retail investors direct spot exposure to Ripple’s payments focused asset. To attract early inflows, Bitwise is waiving its 0.34% fee for one month on up to $500M in assets.
Momentum in the XRP ETF space is building fast. Bloomberg’s James Seyffart confirmed Grayscale’s GXRP and Franklin Templeton’s XRPZ will go live Monday. Meanwhile, the Canary XRP ETF (XRPC) made history last week with $59M volume and $245M net inflows on day one, surpassing every spot Bitcoin ETF at launch.
$XRP Price Reaction
XRP fell 9% to $2.00 as investor sentiment dipped, but quickly rebounded 5% to $2.12 with trading volume up 30% — showing strong interest driven by ETF approvals. Derivatives activity is mixed: total open interest rose 0.30% to $3.38B, with CME seeing a slight increase while Binance OI declined.
