The exchange-traded fund (ETF) based on the XRP cryptocurrency managed by the investment firm Bitwise, whose ticker is XRP (like the currency), has registered a solid reception in its first days of trading on Wall Street.
Specifically, The instrument has managed to accumulate 155 million dollars in capital inflows during its first four days of operation in the US stock market.
This fund is not the only investment vehicle that seeks to capitalize on interest in the digital asset. Three other financial instruments compete for investors’ attention: the Franklin XRP Trust (XRPZ), the Grayscale XRP Trust (GXRP) and the Canary XRP ETF (XRPC).
The four investment products have raised a total of 622 million dollars in capital inflows since its launch.
It is important to note that, to date, none of these funds have experienced days of net capital outflows. It is also important to clarify that, unlike bitcoin-based ETFs that were approved in a simultaneous batch by the regulator, XRP-based funds were approved individually and progressively.
The proliferation of ETFs based on digital assets, not only the cryptocurrency XRP, but also solana (SOL) and dogecoin (DOGE), is framed in a context of policies favorable to digital assets in the United States. President Donald Trump has expressed interest in boost the nation as a superpower in manufacturing, artificial intelligence and cryptocurrenciesas reported by CriptoNoticias.
The president’s statements and new regulations have generated an environment of greater certainty that encourages financial firms to launch this type of products, facilitating institutional investment in these assets.