The Bitwise XRP ETF has surpassed its competitors to become the largest XRP ETF in the US, with $10 million in inflows so far this week, as announced by CEO Hunter Horsley. This development comes as the XRP ETF market continues to expand, with the category’s liquidity and asset base growing. The Bitwise XRP ETF now holds $289 million in net assets, narrowly edging out Canary’s XRPC, which has $285.79 million.
According to SoSoValue’s US XRP spot ETF dashboard, the rest of the pack trails behind the leaders, with Franklin’s XRPZ holding $247.27 million, 21Shares’ TOXR at $179.34 million, and Grayscale’s GXRP at $78.18 million. The fees for these ETFs vary, with XRP at 0.34%, XRPC at 0.50%, XRPZ at 0.19%, TOXR at 0.30%, and GXRP at 0.35%.
The XRP ETF category has seen significant inflows, with $4.19 million in net inflows on March 4, bringing the cumulative total to $1.26 billion. Trading activity has also picked up, with $56.03 million in total value traded on March 4, and aggregate net assets rising to $1.0796 billion. However, the flow history shows a front-loaded launch, with 77% of the cumulative net inflow arriving within the first four weeks.
Expert perspectives suggest that the market has moved from launch-phase allocation to maintenance-phase churn, where rankings can flip on marginal flow differences and NAV moves. As the market continues to evolve, it will be interesting to see how the XRP ETFs perform and how investors respond to the changing landscape. With XRP currently trading at $1.42, investors are keeping a close eye on the market, and the competition among ETFs is expected to remain fierce.
As the largest XRP ETF in the US, Bitwise’s fund is likely to attract more attention from investors, and its performance will be closely watched. The company’s ability to steward investor assets and provide a competitive fee structure will be crucial in maintaining its lead in the market. As the XRP ETF market continues to grow and mature, it is essential for investors to stay informed and adapt to the changing landscape.
