Bitwise Unveils First U.S. Spot XRP ETF on NYSE
On November 20, 2025, Bitwise Asset Management launched the first U.S. Spot XRP ETF on the New York Stock Exchange. Led by CEO Hunter Horsley and CIO Matt Hougan, the ETF aims to provide institutional and retail investors regulated access to XRP. Horsley emphasized the ETF's potential to reshape global financial transactions.
With a management fee of 0.34%, initially waived for up to $500 million in assets, the ETF targets institutional investors and traders, indicating Bitwise's strategy to enhance XRP's liquidity. The launch underscores a favorable regulatory shift and potential growth for XRP in an improved market environment.
"In 2025, we're watching digital assets take on real utility in the global economy, whether powering payments or tokenizing real-world assets. With today's launch of the Bitwise XRP ETF, we're excited to help investors gain exposure to a longstanding asset that has the potential to fundamentally reshape how institutions move money and other assets worldwide." – Hunter Horsley, CEO, Bitwise Asset Management
XRP Pricing, Market Impact, and Industry Insights
The launch of Bitwise's Spot XRP ETF mirrors its earlier European success with the Physical XRP ETP in 2022, marking a continued trend towards broader institutional adoption in cryptocurrency markets.
XRP is currently priced at $1.98, with a market cap of $119.32 billion and market dominance at 4.04%. The fully diluted market cap stands at $198.27 billion, while the 24-hour trading volume reached $6.80 billion, up by 31.60%. XRP's value has decreased by 2.79% over the past 24 hours, with significant declines recorded over the preceding 7, 30, 60, and 90-day periods.
Insights from the Coincu research team highlight this launch's potential to bolster institutional confidence in regulated crypto products. Past ETF launches have shown positive impacts on liquidity and trading volumes, likely benefiting XRP’s position as technology advances and adoption increases.