Bitwise XRP ETF Sees Record Trading Volume Amid Market Uptick

Bitwise's XRP spot exchange-traded fund (ETF) has seen significant trading activity, reaching a record daily volume of over $80 million. This milestone was achieved on August 25, with trading also exceeding $60 million in each of the previous two sessions.

The surge in trading value coincided with a period of strong performance by XRP spot prices, derivatives markets, and on-chain indicators. Over the past week, XRP climbed from $0.988 to as high as $1.70, representing a 70% increase.

According to Sosovalue data, Bitwise's XRP spot ETF recorded net inflows of $8.25 million in the latest session, bringing cumulative net inflows to around $550.93 million. This is the largest amount among all XRP spot ETFs managed by Bitwise, with Canary Capital and Franklin Templeton following closely behind.

The trend suggests that participation in the XRP market is expanding, with regulated investment products taking a larger share of the market. However, XRP's price has slipped slightly over the past 24 hours, dropping to $1.39 after reaching $1.70 last week.