Two new spot XRP exchange-traded funds (ETFs) commenced trading on NYSE Arca on Monday, November 24, 2025. This development signifies another important step in the expanding landscape of regulated cryptocurrency products within the United States.
The Franklin XRP ETF, ticker XRPZ, offered by Franklin Templeton, and Grayscale’s XRP Trust ETF, ticker GXRP, have joined existing offerings from Bitwise and Canary Capital. These new ETFs provide investors with direct exposure to XRP, eliminating the complexities associated with self-custody of digital assets.
Following the announcement of these new ETFs, XRP is trading at approximately $2.14 as of November 24, 2025. This represents a 4.79% increase in the last 24 hours, even amidst broader market pressures affecting Bitcoin.
The initial trading activity in the first hour across the four actively traded XRP ETFs totaled $13.9 million, according to NYSE data. Bitwise’s XRPT led this volume with $4.54 million. Franklin Templeton’s XRPZ followed with $4.00 million, representing 176,191 shares, and Grayscale’s GXRP recorded $1.13 million, equivalent to 28,045 shares. Projections indicate that total first-day trading volume is expected to surpass $20 million once final figures are released.
Incentives for Early Adoption
To attract initial liquidity, both Franklin Templeton and Grayscale have implemented fee structures designed to encourage early investment. Franklin Templeton is waiving its 0.19% sponsor fee on the first $5 billion in assets until mid-2026. Grayscale has introduced a temporary 0% fee structure for GXRP. The GXRP ETF began trading with an initial holding of approximately 6 million XRP, following its conversion from a private trust established in September 2024.
"XRPZ offers professional custody and liquidity without the headache of holding tokens directly," stated Roger Bayston, head of digital assets at Franklin Templeton, in a release following the ETF's launch.
Krista Lynch, Grayscale’s senior vice president of ETF capital markets, commented that the GXRP listing represents "another meaningful step in broadening access to the XRP ecosystem."
Strong Inflows and Network Activity Drive Institutional Interest
Since mid-November, spot XRP ETFs from Bitwise and Canary Capital have collectively seen net inflows exceeding $423 million. This inflow volume has surpassed recent flows into Bitcoin and Ether products, according to data compiled by The Block Research. This indicates significant institutional demand for XRP exposure.
The XRP Ledger has a robust history, having processed over 4 billion transactions since its inception in 2012. Issuers continue to highlight XRP's utility in cross-border payments and real-world settlement use cases, which are powered by Ripple's network.
Future Outlook for XRP
Despite a 8% dip from intraday highs of around $2.03 in the previous session, XRP has maintained its position above key support levels near $1.75 and $1.85. Technical analysts are closely monitoring resistance at $2.16, with the potential for a move towards $2.20 to $2.24 if sustained volume is observed.
Longer-term forecasts from market analysts, including those from JPMorgan and independent researchers, suggest that total inflows into XRP ETFs could range from $4 billion to $8 billion over the next few years. Such figures would position the XRP ETF category comparably to the initial inflows experienced by Bitcoin and Ethereum products.