thecryptobasic.com
The Bitwise $XRP ETF has seen a big jump in trading activity over the past three sessions as institutional investors pay more attention to $XRP price.
Bitwise President Teddy Fusaro said more than $80 million worth of the ETF was traded in the latest session. The two sessions before that each had more than $60 million in trading volume.
Accordingly, Fusaro said trading volume has “really popped” over the past three sessions. Notably, the Bitwise president disclosed that the latest session marked the highest-volume trading day since the ETF’s launch.
Bitwise leads $XRP ETF inflows
The surge in trading activity comes as $XRP ETFs continue to attract fresh capital. SoSoValue data shows the Bitwise $XRP ETF recorded an $8.25 million inflow in the latest session. This took its cumulative net inflows to approximately $550.93 million.
Bitwise is currently the largest $XRP ETF issuer by cumulative inflows. Canary Capital follows with about $469.69 million, while Franklin Templeton has attracted approximately $438.16 million.
Other issuers have also contributed to the $XRP ETF flows. Franklin and Canary joined Bitwise in recording inflows during the latest session, helping push total daily $XRP ETF inflows to approximately $13.82 million.
Other ETFs
Meanwhile, Grayscale and 21Shares did not record inflows during the session. Across all $XRP ETFs, cumulative net inflows have now reached roughly $1.57 billion, while total assets stand at around $1.44 billion.
Notably, 21Shares is the only ETF in the group with negative net inflows, at around -$20.1 million. Still, its ETF has about $159.9 million in assets, more than Grayscale’s $84.4 million.
These figures are significant because trading volume and fund inflows provide important insights into market activity. Inflows mean investors are putting new money into the ETF, while higher trading volume shows that more people are actively buying and selling it, which can also improve liquidity.
$XRP Price Influencing the Market
Notably, the impressive figures for inflows and trading volume come as $XRP has experienced explosive price action over the past few days.
For instance, last week, $XRP’s price rose more than 70%, moving from $0.988 to $1.70. Amid this surge, $XRP active addresses jumped 655%, rising from 47,180 to 356,070.
Market activity also spiked, with $XRP futures volume reaching $11.37 billion across major exchanges, the highest level since February. Large exchange withdrawals simultaneously rose to 231 million $XRP.
In sum, the surge in ETF activity, network activity, futures volume, and exchange withdrawals suggests that the latest $XRP rally is being driven by significantly increased market participation.
With more than $80 million traded in the latest session and total $XRP ETF inflows nearing $1.6 billion, regulated $XRP investment products are becoming an increasingly important part of the market.