Bitwise's XRP (XRP) ETF Tops $500 Million AUM Nine Months After NYSE Debut

Bitwise Crosses $500 Million

Bitwise's spot XRP (XRP) exchange-traded fund has pushed past $500 million in assets under management, a threshold the asset manager confirmed on Aug. 31 — roughly nine months after the product began trading on the New York Stock Exchange on Nov. 20, 2025. For readers new to the vehicle, an ETF wraps the underlying token in a regulated, exchange-listed structure, letting traditional brokerage customers gain exposure to XRP without directly custodied coins. The pace of accumulation stands out against the token's own market performance: XRP trades down roughly 66% from its 2026 levels, a drawdown that would normally compress a fund's valuation, yet cumulative inflows have more than offset the depreciation of the underlying holdings. Our desk's reading of the flow data is that the acceleration became especially visible after the token carved out a local low in mid-August, with capital entering the wrapper at a steadier clip since. In a post on X announcing the milestone, Bitwise framed the moment around the community rather than the chart, writing that “14 years in, and the XRP community continues to be unstoppable” and expressing gratitude for the chance to widen mainstream access to the asset. The takeaway: demand for regulated exposure is behaving independently of spot price, with investors treating the bear-market drawdown as an accumulation window through the ETF structure rather than an exit signal — a pattern consistent with maturing institutional adoption of the XRP ecosystem.

post on X announcing the milestonehttps://x.com/bitwise/status/2094418806948946180?s=46&t=dYF0hpz-gFc8HcetSehFUQ

Franklin Templeton Emerges as Closest Rival

The milestone lands in an increasingly crowded field. Franklin Templeton's XRPZ product attracted approximately $28.7 million during the week of Aug. 24–28, making it the clearest challenger to Bitwise in terms of recent momentum. Canary Capital's XRPC remains one of the largest products overall — earlier 2026 data identified Canary as holding the biggest AUM in the XRP ETF group, though more recent tracker readings place Bitwise ahead in both tokens held and total assets, with roughly 364.8 million XRP under its management. Grayscale's GXRP and 21Shares' TOXR operate at a considerably smaller scale. Taken together, a recent ETF tracker puts total XRP ETF assets under management at about $1.53 billion — still modest next to spot Bitcoin and Ethereum products, but a pool that has concentrated around a handful of leaders. That competitive structure matters for flows: with several similarly constructed products chasing the same mandate, a single week of creations can reshuffle the rankings, and August's data shows exactly that dynamic, with Bitwise overtaking on size while Franklin leads on weekly momentum. For allocators weighing where to buy XRP exposure, the choice of wrapper increasingly comes down to fee structure and liquidity rather than availability, since the largest products all trade on US exchanges and track the same underlying asset. Readers tracking the market in real time can follow live spot and futures prices on MEXC.

$1.39 Resistance Under Test

The paper-loss side of the picture has now been quantified: SEC filings show the five major US spot XRP ETFs — Bitwise, Canary Capital, Franklin Templeton, 21Shares and Grayscale — collectively sitting on $746.1 million in unrealized losses against a cost basis of roughly $1.7 billion, with fair value 44.1% below cost. Even so, primary-market activity stayed net positive through H1, with about $629.9 million in creations against $309.1 million in redemptions, a net inflow of $320.8 million. Bloomberg ETF analyst James Seyffart described the demand as “surprisingly resilient” in an Aug. 31 post, tallying cumulative net inflows across the asset class at $1.8 billion. That accumulation continues into a risk-off stretch that includes the September 1 escrow release of 1 billion XRP.

(as of 01:16 UTC) COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $1.3765 resistance at 89/100, driven by the confluence of the LVN, Fibonacci 0.382, R1 and Value Area High, while the $1.3352 support scores 79/100 on Fibonacci 0.618, S1 and swing-low confluence — spot at $1.3416 sits just above that floor after a 2.71% 24-hour pullback. Positioning still skews long: funding at 0.0064%, open interest of $918.5 million and a 2.98 long/short account ratio (74.9% long) on our contract trading aggregate, with the Fear & Greed Index at 63 (Greed) and RSI near 58 inside a bearish-MACD sideways trend. A daily close above $1.3765 opens $1.5139 (70/100); losing $1.3352 shifts the weight of evidence toward $1.2162 (77/100), as we flagged in our earlier review of how XRP defended $1.34 support.