Bitwise XRP ETF Reaches $500 Million in Assets Under Management
- Bitwise’s XRP ETF holds approximately $502.7 million in net assets as of August.
- The fund’s holdings include nearly 364.8 million XRP tokens.
- The ETF recorded over $200 million in combined trading volume across three sessions ending August 24.
- Net assets rose from $241.4 million at year-end to $299.1 million by June, despite a decline in XRP’s valuation.
- Authorized participants create and redeem shares in blocks of 10,000.
The Bitwise XRP ETF has crossed the $500 million milestone within nine months of its launch, showcasing significant growth despite the volatility in XRP‘s price during this period.
This achievement highlights the increasing interest and investment in indirect cryptocurrency exposure through conventional brokerage accounts, reinforcing Bitwise’s position as a leading U.S.-based XRP fund provider. (Source)
