Hassan Maishera
TL;DR
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Ripple’s XRP is down 1% in the last 24 hours and risks dropping below $2 as the market remains bearish.
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Bitwise has announced the launch of its spot XRP ETF on the New York Stock Exchange.
Bitwise Asset Management to Launch Spot XRP ETF on NYSE
Bitwise Asset Management announced the launch of its spot XRP exchange-traded fund on the New York Stock Exchange.
According to the asset manager, the new fund will commence trading today, Thursday, November 20th, under ticker XRP, with a management fee of 0.34% that is waived for the first month on the first $500 million in assets.
While commenting on the new launch, Bitwise CIO Matt Hougan said,
"XRP is a really intriguing asset for several reasons. It has operated successfully for a very long period of time at extremely low cost, it processes high transaction volumes, and it has a really strong and vibrant community of supporters."
This latest development comes as XRP remains the world's third-largest non-stablecoin cryptocurrency with a market capitalization of $128 billion. The coin is down by 1% in the last 24 hours and risks dropping below $2 if the bearish trend continues.
Bitwise’s XRP ETF will be the second spot XRP product following Canary Capital's XRPC. XRPC launched a few days ago and has accumulated $276.8 million in net inflows since launch.
Grayscale is set to launch its spot XRP ETF next after announcing on Wednesday that its GXRP fund will go live soon. Bloomberg Analyst James Seyffart wrote on X that Grayscale's spot XRP ETP will likely launch on Monday, alongside Grayscale’s Dogecoin ETF.
Our base case is that @Grayscale's XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF.
— James Seyffart (@JSeyff) November 19, 2025
And I think the @FTI_US XRP ETF could go live on Monday the 24th as well. Lots happening next week. https://t.co/TkA6EE0D6T
