$XRP ETPs Soar as XRPL Stablecoins Surge
The XRP Ledger ecosystem saw significant growth in Q2 2026, driven by institutional interest, stablecoin adoption, and RWA tokenization. According to Blockworks' State of $XRP: Q2 2026 report, $XRP ETPs attracted $253.6 million in net inflows during Q2, a 45.1% increase from the $174.8 million recorded in Q1.
The cumulative net inflows since the launch of the first U.S. spot $XRP ETF in November 2025 surpassed $1.90 billion. However, quarter-end ETP assets under management fell 17.1% to $1.99 billion, reflecting $XRP's 19.9% price decline during the quarter.
The largest issuers of XRP ETPs were Bitwise with $421.5 million in quarter-end AUM, followed by 21Shares with $366.2 million, Canary Capital with $240.7 million and Franklin Templeton with $234.6 million. Together, the four issuers represented 63.6% of tracked XRP ETP AUM.
XRPL-native stablecoin supply surged 195.4% quarter over quarter to $825.5 million, compared with $279.5 million at the end of Q1. Ripple's $RLUSD accounted for $676.9 million, or 82% of the total.