The Bitwise XRP ETF officially launched on the New York Stock Exchange this morning, trading under the eye-catching ticker $XRP. Within hours of going live, the fund crossed 610,045 XRP traded, translating to $14.26 million in early volume. Updated projections now estimate the ETF could finish Day 1 with as much as $92.7 million.
Reacting to the launch, Ripple CEO Brad Garlinghouse congratulated Bitwise and joked that the “pre-Thanksgiving XRP ETF turkey trot” has officially begun.
His message quickly spread across the XRP community, highlighting how significant this moment is for XRP’s push into mainstream financial markets.
Bitwise CIO Matt Hougan echoed the excitement, calling the ETF debut a huge achievement for both the asset and the community behind it. “Very excited to launch the Bitwise XRP ETF,” Hougan said. “What a journey for this asset and this community. Excited to see what’s next.”
Even with the ETF’s strong launch, XRP’s price is seeing mild pressure. The token is down around 1%, trading near $2.10. Analysts warn that if XRP falls below $2.10, it could slip toward $1.95. Still, the ETF’s early performance shows demand for XRP exposure remains strong, even during broader market volatility.
With such a fast start, traders are now watching to see whether Bitwise’s ETF can challenge Canary Capital’s breakout debut earlier this month, which saw over $58.5 million in trading volume on Day 1. If current momentum continues, Bitwise may be on track to set a new benchmark for XRP ETFs.
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