With the official launch of the Bitwise XRP ETF, an important milestone for digital investment vehicles has been reached. Through its listing on the NYSE, both institutional and retail investors can now invest in XRP for the first time via a regulated instrument.
On November 20, 2025, the spot ETF will launch under the ticker XRP, managed by Bitwise Asset Management. The annual management fee is 0.34%, although it is waived for the first USD 500 million in assets during the initial month. The fund holds physical XRP – the third-largest cryptocurrency by market capitalization – setting a new standard for regulated crypto ETFs in the United States.
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First spot XRP ETF in the United States
The new Bitwise fund offers investors indirect exposure to XRP without the need to custody the cryptocurrency themselves. XRP is based on the so-called XRP Ledger (XRPL), a blockchain designed specifically for fast and low-cost transactions. Bitwise highlights the efficiency of the platform, with more than four billion processed transactions and daily trading activity of around USD 1.9 billion, while maintaining a settlement time of three to five seconds.
The ETF launch comes amid a favorable regulatory environment: in September 2025, the US Securities and Exchange Commission (SEC) adopted new generic listing standards that paved the way for spot crypto ETFs beyond BTC and ETH to be approved.
Efficiency and application focus
This product makes XRP accessible through a regulated securities instrument for the first time – an important bridge between crypto and traditional financial markets. However, investors should not overlook the inherent risks: the fund is not registered under the Investment Company Act of 1940, meaning certain investor protection mechanisms do not apply.
In addition, cryptocurrency volatility remains high, and long-term token adoption on the XRPL has yet to be fully validated. Overall, this ETF launch marks a significant step forward, but also serves as a reminder that careful analysis remains essential.
