Bitwise Confirms Spot XRP ETF Launch on NYSE Arca, Calling It a Historic Milestone

Crypto asset manager Bitwise has officially confirmed that its spot XRP exchange-traded fund (ETF) will begin trading this Thursday, marking what the firm describes as a historic moment for both XRP and the broader digital asset market. The Bitwise XRP ETF, which will trade on NYSE Arca under the ticker symbol “XRP”, becomes the second XRP-focused ETF to hit the market following last week’s debut of the Canary XRP ETF (XRPC).

Bitwise, which manages more than $15 billion in assets, emphasized the significance of the launch, calling it “a big step forward for XRP, the world’s third-largest crypto asset,” noting its goal of transforming global payment systems. To commemorate the milestone, Bitwise is hosting a live X Space featuring Ripple CTO David “JoelKatz” Schwartz and Bitwise CIO Matt Hougan, with moderator Eleanor Terrett. The discussion will explore XRP’s evolution, what the ETF means for the XRP community, shifts in traditional finance, and the future of crypto-based global payments.

According to SEC filings, the Bitwise XRP ETF became auto-effective after the issuer submitted Form 8-A and CERT documentation, securing approval to list shares under the XRP ticker. Bitwise set the management fee at 0.34% but plans to waive the fee for the first month on the initial $500 million in assets under management to attract early inflows. The fund offers investors direct exposure to spot XRP as Ripple continues its mission to modernize cross-border payments.

Additional XRP ETFs are also approaching launch. Bloomberg analyst James Seyffart confirmed that Grayscale’s GXRP and Franklin Templeton’s XRPZ are scheduled to go live on Monday. Meanwhile, the recently launched Canary XRP ETF (XRPC) posted a record-breaking debut with $59 million in first-day trading volume and $245 million in net inflows, outperforming the initial inflows of every spot Bitcoin ETF and the Bitwise Solana Staking ETF (BSOL).

Following the ETF announcements, XRP’s price initially dipped over 9% to $2 as whales and long-term holders shifted sentiment, but the token soon rebounded to around $2.12. Trading volume surged more than 30% as investors responded to the growing momentum behind XRP ETFs. Data from CoinGlass shows rising futures open interest, signaling heightened derivatives activity across major exchanges.