Bitwise XRP ETF Day 1 LIVE: Ripple CEO Reacts To Launch As XRP Price Crashes

The XRP ETF excitement is here. Ripple CEO Brad Garlinghouse called it the start of the “pre-Thanksgiving rush” for XRP ETFs, congratulating Bitwise on the milestone.

Bitwise CIO Matt Hougan said he is “very excited” about the launch of the Bitwise XRP ETF, calling it a major moment for both the asset and the XRP community. Hougan said that XRP has had a long and challenging journey to reach this stage and added that he’s eager to see what comes next as institutional access to XRP continues to expand.

The Bitwise XRP ETF has crossed 610,045 shares traded, translating to more than $14.2 million in volume. Updated projections now estimate the fund could close Day 1 with roughly $92.7 million in total trading volume, signaling strong early demand from XRP-focused investors.

Speculation is building across the XRP community as analysts suggest BlackRock may be quietly exploring the idea of a spot XRP exchange-traded fund. While the asset manager hasn’t filed anything with regulators, market watchers say even internal discussions would be enough to spark fresh institutional interest.

Read More: Are Ripple and BlackRock Dropping Clues About an XRP ETF? Here’s Why It Matters

Grayscale updated its S-1 filing on November 3, which started a 20-day countdown. If the SEC doesn’t respond, the filing goes live on November 24, allowing Grayscale to list its GXRP ETF on NYSE Arca. Franklin Templeton has also filed Form 8-A, a sign that its own XRP ETF is nearly ready. Analysts say both funds could launch on November 24, making it one of the biggest XRP ETF days yet.

Bitwise’s new XRP ETF officially launches today, marking a major milestone for the asset. To celebrate, Bitwise is hosting a live X Space with Ripple CTO David Schwartz, Bitwise CIO Matt Hougan, and journalist Eleanor Terrett. They’ll discuss the journey to launch, why XRP was chosen, and what it means for the #XRPArmy.

XRP is trading around $2.12, down slightly on the day as market pressure continues across major altcoins. Analysts say the key level to watch now is $2.10. If XRP falls below that support, the price could slide further toward $1.95.

Live blog cBitwise launched its XRP ETF this morning by seeding it with 1.11 million XRP, worth about $2.27 million. Now the focus is on whether it can match Canary’s huge debut last week, when the XRPC ETF hit $58.5 million in day-one trading volume and $245 million in net inflows.ontent goes here…

Bitwise seeded its newly launched XRP ETF this morning with 1,119,660.33 XRP, valued at roughly $2.27 million.

The move marks the official start of trading and signals strong early commitment from the issuer. The ETF, which provides spot exposure to XRP, enters the market as interest in XRP-based investment products continues to grow.

The Bitwise XRP ETF launched today on the NYSE under the ticker $XRP, becoming the second pure spot XRP fund in the U.S. market. Bitwise is aiming to beat the opening-day volume set by Canary’s XRPC ETF last week. The fund carries a 0.34% management fee, waived for the first month on the first $500 million. It offers direct spot exposure to XRP, the crypto designed to streamline global payments.