The launch of multiple XRP exchange-traded funds delivered a strong debut on Monday, November 24, 2025, marking a significant milestone for the asset’s return to regulated U.S. markets. Grayscale’s GXRP and Franklin Templeton’s XRPZofficially listed on NYSE Arca, joining offerings from Bitwise and Canary Capital. Combined, the four products generated $85.7 million in trading volume on their first day.
Solid Trading Debut for Grayscale and Franklin Templeton
While Bitwise dominated overall activity, the newly launched GXRP and XRPZ ETFs attracted notable attention from traders seeking regulated exposure to XRP after its 2025 settlement with the U.S. Securities and Exchange Commission.
Franklin Templeton’s XRPZ saw the strongest debut among the newcomers. By the close of trading, it had moved 965,203 shares, generating $23.66 million in volume.
Bitwise and Canary Capital Lead Total XRP ETF Activity
Beyond the two new entrants, established issuers dominated total liquidity. Bitwise generated $36.6 million in volume, making it the most traded XRP ETF on Monday. Canary Capital followed closely with $18.8 million, reflecting steady institutional and retail demand.
Across all issuers, the combined XRP ETF ecosystem recorded $85.7 million in daily turnover, an impressive outcome given the broader market’s risk-off sentiment.
Regulated XRP Products Arrive After Landmark SEC Settlement
The energetic debut is closely tied to the regulatory clarity secured earlier in 2025, when Ripple reached a long-awaited settlement with the U.S. SEC. That agreement opened the door for XRP to be treated similarly to Bitcoin and Ethereum in exchange-traded products, enabling major issuers to greenlight ETF filings.
With this clarity in place, the launch of XRP ETFs represents the asset’s most significant step toward mainstream U.S. investment access in years. Despite ongoing volatility across the crypto market, inflows into XRP-linked products highlight strong underlying demand from investors seeking compliant exposure.
As liquidity builds and more issuers join the market, XRP’s ETF ecosystem is poised to play an increasingly important role in shaping institutional adoption heading into 2026.
