Bitwise XRP ETF reaches $561 million in assets

The Bitwise XRP ETF has reached $561 million in assets under management (AUM), making it the largest spot XRP exchange-traded fund by assets. The fund currently holds more than one-third of the total assets in the XRP ETF sector.

Despite this milestone, the broader XRP ETF market recently experienced a shift in momentum. After a 13-week streak of continuous inflows, XRP-focused ETFs recorded a net outflow of over $1.84 million last week. This reversal coincided with price volatility for XRP, which recently tested the $1.30 level.

Bitwise's fund, which trades on the NYSE Arca, seeks to reflect the value of its direct XRP holdings, minus operating expenses. Coinbase Custody provides custody services for the cryptoassets, and the fund utilizes the CME CF XRP-Dollar Reference Rate to track price activity.