Bitwise XRP ETF Day 1 LIVE: $2.27M Seed Kickstarts Trading, XRP Price Dips

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.