XRP ETFs are on Fire 

Have you been following the latest developments in the cryptocurrency market? Sentiment has shifted decisively into caution—Bitcoin is down 21% this month, the Fear & Greed Index is sitting in “extreme fear,” and the broader market is still digesting Bitcoin’s October peak at US$126,000. November also saw record Bitcoin ETF outflows of US$3.79bn, with Ethereum facing similar pressures.

Against this backdrop, XRP has delivered a notable counterpoint with the successful launch of its spot ETFs, showing unexpected resilience and setting several new milestones.

On 14 November, Canary Capital introduced the first US spot XRP ETF, drawing an impressive US$245m in day-one inflows. That translated to roughly US$250m net, alongside US$58m in trading volume—making it the largest ETF launch of any category in 2025. Bitwise followed with its own XRP ETF on the NYSE last week, Franklin Templeton listed on NYSE Arca soon after, and Grayscale is preparing to join them. This brings the tally to at least four major products, with suggestions that up to nine more could list this week.

Across their first seven days, these ETFs have attracted more than US$586m in inflows, including a single-day record of US$164m on Monday—outpacing Bitcoin, Ethereum and even Solana funds. For context, this already exceeds the combined volume of all other new crypto ETFs launched in 2025. Analysts now forecast US$4–8bn in year-one inflows.

While retail investors continue to navigate a difficult environment and XRP trades steadily near US$2.20—despite brief 7–10% bumps on launch days—institutional demand remains strong. Commitments include US$135m into Bitwise’s fund, and Franklin Templeton’s zero-fee structure is expected to help drive inflows toward US$2bn by year-end. These allocations reflect growing confidence in XRP and its XRPL technology, aimed at the US$250tn global payments market, particularly after Ripple’s SEC case was resolved earlier this year. In a market where Bitcoin is seeing ongoing outflows and altcoins are lagging, such inflows suggest firm conviction in XRP’s long-term prospects.

The development mirrors Bitcoin’s experience after its spot ETFs were approved in 2024, when sustained inflows strengthened market legitimacy and helped move Bitcoin from below US$50,000 to six-figure territory, lifting the wider sector. XRP is already outperforming Bitcoin year-to-date—up 89% versus Bitcoin’s 3.6%—and the current ETF momentum is reversing broader outflow trends, positioning XRP for a similar trajectory.

Short-term pressures, such as leveraged liquidations, may limit immediate price gains. Even so, the scale of institutional participation points to a more durable growth base rather than short-lived speculation.

In summary, despite the current market downturn, the launch of XRP spot ETFs is a constructive development. For investors active in the space, it’s a trend worth watching closely, with the potential to contribute to a broader market recovery.