US XRP (XRP) ETFs Accumulate 1.18 Billion Tokens

Spot ETFs Amass 1.18 Billion XRP

Institutional demand for XRP exchange-traded products has pushed the combined holdings of the seven US-listed spot XRP ETFs to roughly 1.18 billion tokens, based on fund-level data as of September 28, 2026. That stash equals about 1.18% of the asset's fixed 100 billion maximum supply, a share that has climbed steadily since the first products launched. Flows stayed positive through the most recent trading week: the funds took in $75.59 million net between September 21 and 25, with Bitwise's XRP ETF alone absorbing $58.99 million, according to aggregate fund data. Cumulative net inflows across all seven products have now reached $1.79 billion. The build-up lands just ahead of two calendar events that could shape October trading. On September 30, shareholders of Armada Acquisition Corp. II vote on the merger with Evernorth, the Ripple-backed XRP treasury company; if approved and closed, the combined firm is expected to trade on Nasdaq under the ticker XRPN, with a mandate to grow XRP per share over time. A day later, on October 1, Ripple's escrow may release as much as 1 billion XRP — although historical practice shows unspent tranches are routinely re-locked, softening the effective supply impact. XRP itself traded in a narrow band near $1.48–$1.52 on September 28. For readers weighing an entry around these dates, our where to buy XRP guide walks through the basics, and the latest flows sit in our XRP market hub.

XRPL Amendments Head for Activation

The protocol side of the story is moving on a parallel clock. Vet, community lead at the XRPL Foundation, counts roughly 11 days until two long-debated amendments fully activate on mainnet, both aimed squarely at corporate users. The batch-execution pair — BatchV1_1 and its companion fixBatchV1_2 — carries 85–94% validator support, with activation targeted for October 9. They implement atomic, all-or-nothing transaction groups, closing the risk flagged in the XLS-56 design work of funds stalling in a multi-party settlement when one counterparty fails to deliver. PermissionDelegationV1_1 has secured 82% support and entered its waiting period, activating October 5; it lets organizations delegate granular account permissions to departments or third-party services without exposing the primary private key. Together they move XRPL beyond plain payment rails toward dapp-grade automation that banks and fintechs can operate under their own compliance rules. Maintenance is running alongside: developers shipped xrpld 3.4.1 on September 25 to patch security-sensitive bugs and urged node operators to upgrade promptly, while validators also gather votes for fixCleanup3_4_0, needed to stabilize AMM liquidity pools in the v3.4.0 release. Engineering depth is returning too — Nik Bougalis, a core cryptographer who left the project in 2022, is back on the XRPL core and has proposed migrating the ledger to 64-bit components and eliminating raw pointers ahead of potential institutional load. Payments throughput has been climbing as well, with XRP Ledger daily payments recently topping 1.14 million. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

Vet's countdown post on the XRPL amendment schedule

https://x.com/Vet_X0/status/2104555135250931780?s=20

Our reading is that the two threads point in the same direction. Spot ETF demand shows traditional capital already accumulating XRP through regulated wrappers, while the Batch and PermissionDelegation amendments supply the execution and access-control primitives institutions need before routing real volume into the ledger. Activation alone will not pull liquidity in — adoption hinges on fintechs shipping products on top — and the October 1 escrow window remains the nearest supply test. But with cumulative ETF inflows at $1.79 billion, a hardened client release live and Ripple's RLUSD supply hitting a record $2.49 billion on the ledger, the infrastructure case for XRP looks firmer than it did a month ago.