$XRP Spot ETF Trading Volume Hits All-Time High

The infrastructure around $XRP is scaling faster than its price suggests, according to recent data. The token's seven spot exchange traded funds (ETFs) have broken an all-time high in trading volume, reaching $125 million on August 20. This volume record came alongside the largest weekly inflow since May, a whale accumulation wave visible on the $XRP Ledger, and a derivatives market that swung from a short squeeze to a long liquidation inside 48 hours.

The seven ETFs now hold nearly a billion tokens, with Bitwise leading in cumulative net inflows at $542 million. Franklin Templeton's XRPZ fund has the lowest base fee in spot crypto ETF history, at 0.19 percent. The compression of fees is notable because bitcoin spot ETFs took roughly four months to reach similar levels.

The volume spike coincided with three events: a bond buyback operation by the US Treasury, Ripple CEO Brad Garlinghouse's appearance alongside SEC Chairman Paul Atkins at a Wyoming Blockchain Symposium, and strong net inflows for $XRP ETFs. The derivatives market also saw a 27 percent increase in open interest, pushing $XRP into the top four crypto derivatives.