🚀 XRP ETF: $25M in a Day – Wall Street’s New Crypto Darling? 🎉

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Well, slap my knee and call me astonished! The Bitwise XRP exchange-traded fund strutted onto the scene like a peacock at a poultry show, cluckin’ up a storm with its first-day volume. 🦚💰

  • Bitwise XRP ETF raked in ~$25M on its NYSE debut – not too shabby for a day’s work! 📈
  • Backed by actual XRP, safely tucked away in Coinbase’s custody – no funny business here, folks. 🔒
  • XRP sittin’ pretty at $1.92, though on-chain losses are higher than a cat in a tree since April 2025. 😿

The Bitwise XRP ETF (ticker: XRP) waltzed onto the New York Stock Exchange on Nov. 20, givin’ U.S. investors a chance to own XRP without gettin’ their hands dirty with the token itself. 🕴️✨ On its debut, 1.14 million shares changed hands at an average price of $22, tallyin’ up to a cool $25 million. Now, that’s what I call a hootenanny! 🎉

Sure, early projections had folks dreamin’ of $90 million, but the market had other plans – like a stubborn mule on a rainy day. 🌧️🐴

This ETF ain’t no paper tiger – it’s physically backed by spot XRP held by Coinbase. And to keep things on the up-and-up, it checks itself against the CME CF XRP-Dollar Reference Rate – New York Variant, which is fancier than a three-dollar word. 📏✨

Bitwise is sweetenin’ the pot by waiving its 0.34% management fee for the first month on $500 million in assets. That’s right, folks – free as a bird, for a spell. 🦜💸

Ripple Bigwigs and Market Hoopla

The launch caught the eye of Ripple’s top dogs. CEO Brad Garlinghouse called it a “pre-Thanksgiving rush” for XRP ETFs, and tipped his hat to XRP’s role in cross-border payments. 🦃🌍

Bitwise threw a shindig with Ripple CTO David Schwartz, CIO Matt Hougan, and journalist Eleanor Terrett. They jawed about XRP’s wild ride, regulatory hoop-jumping, and what it all means for the average Joe. 🎙️💬

This launch comes hot on the heels of Canary Capital’s XRPC ETF, which stole the show with $58 million on its first day. Talk about a tough act to follow! 🎭💰

More XRP ETFs are comin’ down the pike, with Grayscale, Franklin Templeton, and a whole gaggle of others joinin’ the party. By the end of 2025, they’re expectin’ a cool $5-8 billion to come pourin’ in. 🤑🚀

XRP Price: A Tale of Woe and Wonder

At the time of scribblin’ this down, XRP was down 10%, tradin’ at $1.92. Glassnode’s on-chain data shows realized losses are higher than a kite in a hurricane, averagin’ $75 million a day. That’s the highest since April 2025 – looks like a lot of folks are cuttin’ their losses. 📉😢

Investors are keepin’ one eye on the price and the other on the ETF parade, waitin’ to see which way the wind blows next. 🌬️🤔

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2025-11-21 13:34