50,674,497 XRP Move Amid Franklin Templeton and Grayscale XRP ETF Launch Discussions – What’s Going On?

Growing interest in XRP intensified today as several major developments unfolded across the market. Activity increased sharply as whale movements and new institutional launches shaped the overall direction of the asset.

According to Whale Alert, 50,674,497 XRP valued at $105,069,913 shifted from Kraken to an unknown wallet. The volume of the transaction sparked speculation, especially because of the anonymity of the destination address and how it aligns with rising institutional activities.

Besides, the timing of the transaction stood out as it came amid two huge XRP ETF launches today. Consequently, observers are now following both developments closely as they occurred within the same trading session.

New ETF Launches Add Momentum to Institutional Activity

Institutional activity strengthened as Grayscale and Franklin Templeton launched their XRP exchange-traded funds. The New York Stock Exchange approved both listings earlier today, which increased attention on XRP-based investment products.

Eric Balchunas reported that Grayscale’s XRP ETF (GXRP) received its approval and will begin trading later today. He added that Grayscale’s Dogecoin ETF ($GDOG) also entered the market today, while $GLNK will follow next week.

Franklin Templeton also released its XRP ETF (XRPZ) on the same day as Grayscale’s product, marking a notable moment for investors tracking the developing XRP ETF category. Moreover, WisdomTree is awaiting its launch, which will expand choices for traders following institutional growth around XRP.

Growing Market Attention as Whale Activity Aligns With ETF Debuts

In addition, the dual XRP ETF launches increased trading activity across the market. Whale Alert’s report of the 50.6M XRP movement remained a central point of discussion as analysts compared both events during the session.

Furthermore, the link between the whale transfer and the ETF debuts has strengthened focus on XRP throughout the day. Investors will continue to monitor these developments as both events could shape market behaviour during a high-volume trading period.