Bitwise XRP ETF Trading Volume Tops $200M Across Three Sessions

Bitwise Asset Management reported that its XRP exchange‑traded fund (ETF) recorded more than $200 million in secondary‑market trading volume over three consecutive sessions, marking the fund’s busiest period since its launch in November 2025.

Three‑Day Volume Surge

According to Bitwise President Teddy Fusaro, each of the three sessions set a new daily volume record for the fund. The latest session on Aug. 24 saw over $80 million traded, following two prior days with more than $60 million each.

Fund Holdings and Structure

• As of Aug. 23, the ETF held approximately 328.2 million XRP, valued at $484.6 million.
• Net assets were about $484.5 million, with 29.38 million shares outstanding.
• Expense ratio: 0.34%.
• Shares trade on NYSE Arca under the ticker “XRP” and the underlying XRP is custodial‑held by Coinbase Custody Trust Co.

Market Context

The volume spike coincided with a sharp recovery in XRP’s price, which lifted the fund’s net asset value to $15.36 on Aug. 20, an 11.71% increase. The broader crypto market rallied after the U.S. Treasury announced an expansion of its long‑end buyback operations to $4 billion, effective Sept. 9.

Supply Dynamics

While trading activity surged, the circulating supply of XRP grew 5.5% year‑over‑year due to escrow releases. U.S. spot XRP exchange‑traded products absorbed 14.8% of this increase in the first half of 2026, representing roughly one‑seventh of the annual net supply growth.

How the ETF Works

The Bitwise XRP ETF provides investors exposure to XRP through traditional brokerage accounts. Authorized participants can create or redeem shares in blocks of 10,000, and each share represents a proportional claim on the XRP held by the trust, less expenses and liabilities.