XRP ETF Market Update (2h 30m Since U.S. Market Open)

Early trading hours typically proceed with minimal activity when new exchange-traded products are launched. However, this session deviated from that norm, with XRP-based ETFs demonstrating notable trading activity within just two hours and thirty minutes of the U.S. market opening.

Crypto commentator Xaif, posting on X, shared the figures, underscoring the substantial trading volume and indicating a competitive landscape and growing institutional interest in XRP.

XRP ETF Volume Snapshot

According to Xaif's report, the combined daily trading volume across five XRP ETFs reached $16.05 million. Canary Capital emerged as the leader, with $4.67 million in trading volume. Franklin Templeton followed closely with $4.24 million, and Bitwise secured the third position with $4.09 million. Grayscale recorded $1.64 million, while Rex Osprey posted $1.40 million.

Canary Capital has established itself as a significant player in the ETF market since its inception, having achieved a record volume of $58 million on its launch day. However, Franklin Templeton and Bitwise are also making considerable impacts in the market.

The narrow difference in trading volume among the top three funds suggests that all three are attracting similar levels of investor interest, indicating no single issuer has dominated liquidity. Xaif summarized the activity by stating, “Institutional money is rotating fast,” and added that “the XRP ETF race is only getting louder.”

Future Expectations for ETFs

Xaif's data provided a snapshot of the trading volume that had already occurred. Another market participant offered a forward-looking perspective. Chad Steingraber, who had previously analyzed the market's performance, projected that these funds could reach $50 million in volume before the trading session reached its midpoint.

At the beginning of the week, these funds collectively closed with a total volume exceeding $85 million. This figure did not include the Rex Osprey ETF. The current trading pace indicates that the session's volume could surpass that weekly total before its conclusion.

Continued Expansion Expected

The five ETFs currently available represent only the initial phase of product launches. Numerous other issuers are actively preparing to introduce additional XRP-related products. Some of these upcoming filings are designed with different fee structures, while others aim to offer alternative custody or liquidity arrangements.

Industry experts have indicated that as many as 12 XRP ETFs are prepared for launch. As more products enter the market, trading volume is expected to diversify across a broader range of offerings before potentially consolidating again. The early session numbers clearly demonstrate that XRP ETFs have entered a period of significant activity.