Here’s How It’s Going So Far

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Here’s how Bitwise’s XRP ETF is doing so far during its launch day.

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Summarize with AI

The third-largest non-stablecoin cryptocurrency has another exchange-traded fund tracking its performance going live today on Wall Street.

After Canary Capital’s launch last week, Bitwise’s XRP ETF hit the New York Stock Exchange under the XRP ticker as of this morning. The company behind the asset described it as a “milestone day for the XRP community,” and outlined some of the most notable facts about Ripple and its native token.

A few hours after the new crypto-focused financial vehicle reached the US markets, Bloomberg’s ETF expert said that it had neared a $22 million trading volume on its opening day. He believes it’s “quite impressive” given the fact that it’s the second such ETF to go live in the US in just a week after Thursday’s launch of Canary Capital’s XRPC.

Recall that XRPC broke the records for a 2025 debut with a trading volume of almost $60 million on day one. Canary’s CEO was quick to congratulate Bitwise for the XRP ETF release, which shows Wall Street that “you don’t have to be BlackRock to launch the top 5 ETFs of 2025.”

In the meantime, the launch of two ETFs in just a week hasn’t spared the underlying asset from tumbling alongside the rest of the cryptocurrency market. XRP is down by another 2% in the past 24 hours as it just slipped below $2.00. Moreover, the asset has plummeted by 15% since last Thursday, when Canary Capital’s ETF hit the markets.