XRP ETF absorbs 80 million tokens in one day... assets under management near $800M
Summary
- Reported that the XRP spot ETF launched in the United States absorbed 80 million tokens in one day.
- Total assets under management (AUM) amounted to $778 million, and GXRP and XRPZ attracted $67.4 million and $62.6 million, respectively, on their launch day.
- Cointelegraph said that market interest in the XRP ETF is expected to continue with new ETF listings.
The XRP spot exchange-traded funds (ETFs) launched in the United States sucked up about 80 million XRP tokens in a single day after their launch.
On the 27th (local time), according to XRP Insights and others, four new XRP spot ETFs, including Grayscale GXRP and Franklin Templeton XRPZ, absorbed about 80 million XRP within 24 hours after their launch on the 24th. Cointelegraph said, "It's a figure that exceeds the initial inflows recorded when the Solana (SOL) spot ETF was recently launched," and added, "(The rapid absorption is) important because ETF demand directly puts pressure on the token's circulation and supply."
The total assets under management (AUM) of XRP spot ETFs were calculated at $778 million (about 1.14 trillion won) as of that day. Grayscale's GXRP and Franklin Templeton's XRPZ raised $67.4 million and $62.6 million, respectively, on their launch day on the 24th alone. Cointelegraph said, "21Shares' TOXR is scheduled to list on the Chicago Board Options Exchange (CBOD) on the 29th," and added, "The XRP ETF craze is expected to continue."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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