Summary
- Bitwise's XRP (XRP) ETF recorded approximately US$22 million in trading volume on its first day of trading.
- The ETF appeared just one week after the Canary XRP ETF and was reported to show an impressive performance.
- The market is reportedly paying attention to the impact that the consecutive launches of XRP ETFs may have on expanding inflows of institutional funds.
Bitwise's XRP (XRP) exchange-traded fund (ETF) showed a strong start, recording approximately US$22 million in trading volume on its first day of trading.
On the 20th (local time), Bloomberg ETF analyst James Seyffart said on X (formerly Twitter) that the trading volume of the Bitwise XRP ETF had reached approximately US$22 million with about three hours remaining until the market close.
He described it as "a very impressive performance" despite being the second XRP ETF to appear just one week after the launch of the Canary XRP ETF.
Bitwise is a leading crypto asset (cryptocurrency) manager that has already operated ETFs based on major assets such as Bitcoin (BTC), and through this XRP ETF launch it is expanding its product lineup into the Ripple ecosystem.
The market is watching whether the consecutive launches of XRP ETFs will contribute to increased inflows of institutional funds.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
