Which XRP ETF launched today?

TLDR

Bitwise Asset Management launched a spot XRP ETF today on the New York Stock Exchange under the ticker XRP per a market report on the launch timeline and terms from The Block.

1. This is the second US spot XRP product after Canary Capitals XRPC last week, noted in a launch recap by Tokenpost.
2. The fund charges a 0.34% fee, waived for the first month on the first $500 million in assets, and is physically backed with Coinbase Custody, per Yahoo Finance.

Deep Dive

1. What Launched

Bitwises Spot XRP ETF began trading today with the ticker XRP on the NYSE. Coverage confirms the go-live date and venue as part of a wave of new altcoin ETFs this month, with Bitwises product explicitly described as a spot XRP ETF on the New York Stock Exchange in a market update by The Block.

• The choice of the native XRP ticker and the listing on a major US exchange underscore Bitwises push to position XRP alongside other established spot crypto ETFs, as also discussed in launch-day explainers like Yahoo Finance.

2. Why It Matters

This listing follows the first US spot XRP ETF by Canary Capital (XRPC) last week, making Bitwises XRP the second US spot product. That sequencing and significance were highlighted in coverage that framed today as a milestone for the XRP market, including Tokenpost.

• The flurry of launches suggests growing institutional paths into XRP exposure, complementing prior Bitcoin and Solana ETF pipelines documented across market reports like the The Block piece above.

3. Key Terms And Structure

Bitwises ETF is physically backed (holds XRP), benchmarks to a CF reference rate, and uses Coinbase Custody. The management fee is 0.34% with a first?month waiver on the first $500 million in assets, per Yahoo Finance.

• Physically backed means NAV reflects held XRP rather than derivatives. The fee waiver is an early-inflows incentive often used in new ETF launches.

Conclusion

The XRP ETF that launched today is the Bitwise Spot XRP ETF trading as XRP, expanding brokerage-based access to spot XRP exposure. As more XRP ETFs arrive, relative fees, custody, and liquidity will shape which funds become the primary vehicles for institutions and retail allocators.