Bitwise XRP ETF Tops $500 Million in Assets, Record Inflows

The Bitwise XRP ETF has topped $500 million in assets under management, making it the largest fund of its kind in the United States just nine months after it started trading. The milestone lands at a moment when XRP’s price has been anything but steady, which makes the number more interesting than it first looks, because it tells you the growth came from new money walking in the door, not from a rising token price doing the work.

Bitwise XRP ETF Crosses $500 Million in Assets

The fund’s page showed $502.7 million in net assets across 364.75 million XRP last Friday, climbing to $507.23 million after Monday’s close, according to figures Bitwise posted on its own site. The asset manager confirmed the milestone in a post on X, framing it as proof that demand for regulated XRP exposure hasn’t slowed down even as the token’s price has whipsawed for months.

“14 years in, and the $XRP community continues to be unstoppable,” the firm wrote, adding it was grateful for the chance to expand mainstream access to XRP and to steward investor exposure to the Bitwise XRP ETF $500 million AUM opportunities the market has offered this year. It’s a celebratory line, sure, but the underlying data backs up the confidence, few had this fund pegged as the frontrunner when the category opened.

For context, net assets under management is simply the total dollar value of everything the trust holds, in this case XRP, divided across all outstanding shares. When that number climbs faster than the token’s own price, it usually means fresh capital is flowing in through share creations rather than the existing pile just appreciating in value. That’s exactly what happened here.

14 years in, and the $XRP community continues to be unstoppable.

How Did the Bitwise XRP ETF Grow So Fast?

The fund grew fast by launching into an already hungry market and stacking inflows early

The Bitwise XRP ETF logged $25.9 million in trading volume on its first day on the New York Stock Exchange on November 20, one week after Canary Capital XRP ETF launch opened the US spot category with a nearly $60 million debut. Canary got there first. Bitwise arrived with scale.

It was Bitwise’s 49th investment product at launch, and the new fund outdrew even the firm’s Bitcoin and Ethereum products in their opening weeks. Cumulative inflows reached $756 million by December 1, a number that made clear institutional and retail investors alike were treating XRP as a legitimate ETF category, not a novelty side bet.

That early burst mattered because it set the trajectory for everything that followed. A fund that launches strong tends to keep attracting flow, since brokerages and advisors default to whichever product already has the deepest liquidity and the tightest spreads. Bitwise’s early lead on volume gave it exactly that kind of head start over rivals that launched around the same window.

Net Assets Dipped Before Rebounding as XRP’s Price Swung

Net assets stood at $241.4 million at the end of December and $299.1 million on June 30, according to the trust’s 10-Q filing for the second quarter, a standard quarterly disclosure public trusts file detailing holdings, fees, and financial performance. Investors added roughly 181.5 million XRP worth $269.9 million through share creations over the first half of the year, including 105.3 million XRP worth $137.9 million in the June quarter alone. That’s the detail most coverage of this story glossed over: the fund kept absorbing new shares even while the token itself was losing value.

Bitwise charges a 0.34% sponsor fee, which it waived entirely on the first $500 million of trust assets through December 19, 2025. That waiver period has since lapsed, meaning the fee now applies across the full asset base, a detail worth knowing for anyone comparing the fund’s total expense drag against Canary’s or Franklin Templeton’s competing products. Over the same six months, the trust recorded a $176.6 million net decrease from operations, which the filing attributed primarily to XRP’s price depreciation from $1.82 on December 31, 2025, to $1.04 on June 30, 2026. Read that gap again, assets under management still grew across the period even as the underlying token nearly halved. That’s inflows doing the heavy lifting, not price appreciation.

XRP then climbed from $1.00 to a multi-month high of $1.70 between August 19 and 22, slid below $1.40 by Friday’s close, and changed hands at $1.38 on Monday, according to CoinGecko. That swing alone, a roughly 70% move off the June bottom followed by a partial retreat, is the kind of volatility that would normally spook ETF holders into pulling money out. It didn’t.

XRP ETF Inflows Hit a Record $1.66 Billion

US XRP funds took in $110.49 million last week, their best weekly haul since early December, pushing cumulative net inflows to a record $1.66 billion on Friday, according to XRP ETF inflows record $1.66 billion data from SoSoValue. Every trading day last week landed in double digits, topped by $28.14 million on Wednesday.

That’s a run of consistent, un-glamorous buying rather than one headline-grabbing spike, and consistency tends to matter more for a fund’s long-term health than a single big day ever does. A billion-and-a-half dollars sitting across a handful of XRP ETFs less than a year after the category opened is not a small number, whatever you think of XRP’s long-running SEC saga and its price action this year.

Bitwise Leads a Three-Way Race Among US XRP Funds

Bitwise’s fund leads that table with more than $600 million in cumulative net inflows, ahead of Canary’s XRPC at $483 million and Franklin Templeton’s XRP fund (XRPZ) at $462.86 million. Three issuers, three separate funds, and combined they’re pulling in money at a pace that outstrips what most analysts expected when the category launched last November.

The gap between the three isn’t huge in percentage terms, which suggests investors are spreading capital across issuers rather than betting everything on one brand name, a healthier pattern for the category than a single dominant fund hoovering up all the flow. Canary had the first-mover advantage. Franklin Templeton brought its traditional-finance distribution network. Bitwise, so far, has simply out-executed both on raw inflows.

What Does the $500 Million Milestone Mean for XRP Investors?

The takeaway isn’t that XRP’s price is booming, it isn’t, not compared to where it started the year. The takeaway is that demand for regulated, exchange-traded exposure to XRP has proven sticky even through a rough first half. For holders watching their bags swing between $1.04 and $1.70 over a matter of weeks, that steady drumbeat of share creations is arguably the more reassuring signal, since it suggests a base of buyers isn’t rotating out on every dip.

Whether that holds if XRP’s price keeps sliding is a separate question. Inflows can reverse fast when sentiment turns, and a fee waiver that’s already expired removes one of the incentives that helped Bitwise pull ahead early. But for now, the fund’s growth curve says something the price chart alone doesn’t.

This article is for informational purposes only and does not constitute investment advice. Every investment and trading decision involves risk. Readers should conduct their own research before making any financial decisions.