The CEO of Ripple Highlights the Innovative Milestone of the XRP ETF
The CEO of Ripple, Brad Garlinghouse, took to social media X to note that XRP ETFs have become the fastest products to reach $1 billion in assets under management (AUM) in the U.S. since those based on Ethereum.
According to Garlinghouse, there is pent-up demand for regulated crypto products.
With platforms like Vanguard allowing access to these ETFs through traditional retirement and brokerage accounts, millions of Americans can now have exposure to cryptocurrencies.
As reported by U.Today, Garlinghouse recently predicted that the overall share of crypto in the ETF market will increase significantly. The CEO of Ripple dismissed the notion that the recent enthusiasm for ETFs was merely hype.
Current Leaders
A total of 477.93 million XRP is currently under custody in various crypto ETFs in the U.S.
Canary Capital leads the group, holding 166.1 million XRP, the largest amount among the ETFs.
Grayscale follows with 104 million XRP, then Bitwise with 91.8 million, Franklin Templeton with 63 million, and REX-Osprey with 53 million XRP. Together, these five ETF issuers represent a total of 477.93 million XRP currently locked in ETFs.
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The total daily trading volume for XRP ETFs is approximately $14.98 million at the time of publication.
Franklin Templeton's XRPZ leads with $4.57 million traded (201.75K shares), followed by Canary Capital's XRPC with $4.17 million (187.95K shares). Bitwise's XRP has $3.40 million traded (145.50K shares), REX-Osprey's XRPR is at $1.79 million (104.50K shares), and Grayscale's GXRP accounts for the remaining volume.
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