XRP ETFs See Strong Market Debut as Regulated Trading Returns

The rollout of several new XRP exchange-traded funds on November 24, 2025 marked a major moment for the asset’s re-entry into the U.S. regulatory landscape.

Grayscale and Franklin Templeton officially brought their spot XRP products – GXRP and XRPZ – to NYSE Arca, joining existing offerings from Bitwise and Canary Capital. Together, the four funds recorded more than $85 million in trading volume on their first day, signaling solid investor interest despite a cautious broader market.

Franklin Templeton’s XRPZ quickly became the standout among the newly listed funds. Its debut saw nearly one million shares trade hands, equivalent to roughly $23.7 million in volume by the closing bell. Activity was brisk right from the start: the fund notched almost $880,000 in trades within its first 30 minutes, giving it an early lead over Grayscale’s competitor.

Grayscale’s GXRP had a quieter launch but still delivered a steady uptick in activity throughout the session. The fund generated roughly half a million dollars in trades during its opening half hour, gradually gaining traction as the day progressed. Though it didn’t match XRPZ’s early surge, GXRP helped boost overall interest in regulated XRP exposure.

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The bulk of trading, however, came from issuers already active in the market. Bitwise once again captured the largest share of liquidity, finishing the day with around $36.6 million in volume. Canary Capital followed with about $18.8 million. Their strong showings helped push combined turnover for all XRP ETFs to $85.7 million, an impressive figure during a period when many investors have been reducing risk across digital assets.

The enthusiasm surrounding the launches can be traced back to developments earlier in 2025. Ripple’s long-anticipated settlement with the U.S. Securities and Exchange Commission finally resolved years of legal uncertainty and cleared the way for regulated XRP investment products. With that barrier removed, major asset managers were able to move forward with ETF filings – bringing XRP closer to the treatment already afforded to Bitcoin and Ethereum.

Monday’s debut underscores how much demand remains for compliant XRP exposure, even as the crypto market navigates another turbulent stretch. As liquidity deepens and additional issuers explore new products, the growing suite of XRP ETFs is likely to shape how institutions engage with the asset heading into 2026.