Multiple XRP ETFs Set for Launch
It looks like we’re about to see several XRP exchange-traded funds hit the market in the coming days. According to Bloomberg Intelligence analyst James Seyffart, the upcoming week could be quite eventful with the Grayscale and Franklin Templeton U.S. spot XRP ETFs expected to launch on November 24th. That’s just around the corner.
Bloomberg senior ETF analyst Eric Balchunas also mentioned in a recent tweet that the Grayscale XRP spot ETF is scheduled for a Monday launch. The timing seems to be lining up across different sources, which gives me some confidence in these dates.
Approvals and Countdowns
Investment management firm 21Shares posted a countdown tweet saying “XRP Army, get ready.” This was responded to by popular XRP Ledger explorer XRPScan asking “what’s the ticker.” It seems like the community is actively watching these developments.
Franklin Templeton’s XRP ETF has been approved by the SEC for the NYSE, which is significant news. Meanwhile, 21Shares has secured approval for its own XRP ETF. This approval allows the firm to move forward with launching the 21Shares XRP ETF, set to begin trading next week on the Cboe BZX exchange under the ticker symbol “TOXR.”
Ripple CEO Brad Garlinghouse indicated that a “pre-thanksgiving rush” for XRP ETFs has started while reacting to Bitwise’s XRP ETF launch. That timing makes sense given the holiday week ahead.
Early Market Response
This week, XRP scored another pure play 33 Act ETF in the U.S. The Bitwise XRP ETF with ticker $XRP began trading on the NYSE on Thursday, marking what appears to be an impressive debut. The Bitwise XRP ETF $XRP reported $25.7 million in trading volume with $107.6 million in inflows and a 0.34% management fee, with the fee set at 0% for the first month on the first $500 million in assets.
Canary Capital’s XRPC, the first U.S. XRP spot exchange-traded fund, marked what seems to be a strong debut in the past week with $58.5 million in trading volume. I think that’s the highest for any ETF launched this year across more than 900 fund launches, which is quite notable.
The market appears to be responding positively to these new investment vehicles, though it’s still early days. We’ll need to watch how these ETFs perform over the coming weeks and whether they maintain this initial momentum. The fact that multiple firms are launching XRP ETFs simultaneously suggests there’s genuine institutional interest in providing exposure to XRP through traditional financial channels.
