Bitwise XRP ETF Trading Volume Surges Past $200M

The Bitwise XRP ETF has seen its highest trading volume in over two years. In three consecutive sessions ending August 24, the fund's daily trading activity reached $80 million on the final day, topping $60 million for each of the prior two days.

According to Teddy Fusaro, President of Bitwise Asset Management, this surge in trading volume is a significant milestone for the fund. The combined total of over $200 million represents secondary-market turnover, not net inflows into the fund.

The increase in volume comes on the heels of a sharp recovery in XRP's price. The cryptocurrency's value has risen 11.71% since August 20, when it reached a net asset value of $15.36.