Crypto
Bitwise XRP ETF Hits $500 Million in Assets Just Nine Months After Launch
Bitwise's XRP ETF has reached $500 million in assets under management just nine months after its market debut.
The fund manager, Bitwise, holds approximately 364.8 million XRP tokens in custody as of the end of August.
Total combined assets across all XRP ETFs in the US market have surpassed $1.53 billion.
Despite a 66% price contraction for XRP compared to levels recorded at the beginning of the year, the fund's structure has helped channel demand from traditional investors seeking direct exposure to the digital asset without taking on direct self-custody.