Bitwise XRP ETF Tops $500M in Assets After Nine Months

The Bitwise XRP ETF has reached a significant milestone, crossing $500 million in assets under management just nine months after its launch. The fund allows brokerage-account investors to gain indirect exposure to XRP without direct custody and access hurdles. According to the latest data, the fund holds approximately $502.7 million in net assets and nearly 364.8 million XRP, valued at about $502.9 million.

The Bitwise XRP ETF's growth is substantial, with its holdings increasing by nearly 78 million XRP from the end of the second quarter. The fund's Securities and Exchange Commission filing shows that share creations exceeded redemptions during the first half, contributing a net $234.4 million increase in assets.

The fund's administrator, Bank of New York Mellon, serves as both administrator and cash custodian, while Coinbase Custody Trust Co. holds the underlying cryptocurrency. Investors receive proportional exposure to XRP after fees and liabilities are deducted.