Bitwise's XRP ETF Surpasses Half Billion in Assets Under Management
Bitwise's XRP Physical ETF, which trades under ticker symbol XRP on the NYSE Arca, has surpassed $500 million in assets under management (AUM), according to a statement from Bitwise. This milestone was reached just nine months after the ETF's launch.
The AUM growth of the XRP ETF has accelerated since mid-August, despite the price of XRP falling by about 66% since its launch. In contrast, the AUM of Bitwise's Solana Staking ETF, BSOL, has exceeded $1 billion, with most of the approximately $1 billion in inflows coming during a bear market.
According to Teddy Fusaro, a representative from Bitwise, the XRP price has been down about 66% since the ETF's launch, but the AUM growth has accelerated since mid-August. The Solana Staking ETF, BSOL, has seen significant inflows during the bear market, indicating investor conviction.
The cost of investing in these ETFs is relatively low, with an expense ratio of 0.34% for the XRP ETF and 0.20% for the BSOL ETF.