Bitwise’s spot XRP ETF has become the largest fund of its kind in the United States.
Bitwise CEO Hunter Horsley confirmed the milestone earlier today on the X social media network.
The fund, which is trading under the ticker $XRP, secured an impressive $10 million in weekly inflows to push it past its competitors.
“Grateful to investors entrusting Bitwise to steward their assets,” Bitwise said on social media.
As reported by U.Today, Bitwise made a trailblazing move by filing for an XRP ETF back in October 2024.
The current state of XRP ETFs
The broader American market for spot XRP exchange-traded funds is highly competitive and has reached significant financial milestones, currently boasting exactly $1 billion in total net assets.
According to comprehensive market data from SoSoValu, the asset class has attracted a cumulative total net inflow of $1.25 billion since the funds began trading.
The race for the top spot remains incredibly tight across the major issuers.
Bitwise currently leads the pack with $269.05 million in assets under management, but it is closely trailed by Canary’s XRPC fund, which holds $262.17 million.
Franklin Templeton’s XRPZ secures the third position with $230.20 million in assets. 21Shares and Grayscale round out the top five issuers in the space, holding $166.96 million and $72.49 million, respectively.
The sector continues to see steady daily accumulation from investors with $7.53 million in total net inflows and nearly $39 million in total value traded on March 3.