One of the most unexpected success stories in U.S. crypto markets this season is coming from XRP.
In just a few weeks, exchange-traded funds tied to the token have amassed nearly $1 billion — a feat that usually takes far longer for new financial products to achieve.
Key Takeaways:
XRP ETFs are rapidly approaching $1 billion in assets after weeks of steady inflows.
More issuers and wider access – including Vanguard support and leveraged products – are accelerating momentum.
CoinShares walked away from its XRP ETF effort, but demand across the market remains strong.
From Niche Start to Runaway Momentum
What stands out isn’t just the size of the capital, but the consistency. Since appearing on exchanges in mid-November, the vehicles have attracted new money every single day, with not a single trading session showing net outflows. Daily activity has settled into a healthy rhythm, signalling sustained investor interest rather than short-lived launch hype.
Reaching this scale so quickly places XRP’s ETFs among the fastest-growing digital asset products in the U.S. Only Bitcoin and Ethereum’s longstanding giants command more, holding tens of billions, while Solana’s newcomers have crossed the $600 million line.
The Spark Came From Canary — Then Others Flooded In
The catalyst traced back to Canary Capital’s debut ETF, which saw an unusually strong entrance, drawing hundreds of millions in its first trading sessions. That initial blast of liquidity gave the market confidence — and other issuers wasted no time piling in. Bitwise, Franklin Templeton, and Grayscale rolled out their products soon after, with Bitwise logging one of the most impressive early inflow tallies.
The pipeline keeps expanding: 21Shares has won approval for an additional spot product under ticker TOXR, reinforcing the sense that the category is just getting started.
Distribution Is Opening Up — And So Are Trading Styles
Momentum isn’t only being driven by issuers. A major accelerant appeared when Vanguard — one of the most influential names in asset management — reversed course and will now allow its massive client base access to crypto ETFs, including XRP-focused funds. This single decision gives the asset class meaningful exposure to retail and institutional audiences that previously could not participate.
Meanwhile, new trading variations are appearing. REX Shares and Tuttle Capital partnered on a leveraged 2x XRP ETF designed for active traders, extending the category into more speculative territory after REX’s earlier partial spot vehicle.
One Step Forward, One Step Back
Not everyone is staying in the race. CoinShares officially abandoned plans for its XRP ETF lineup, withdrawing filings before anything reached the listing phase. Yet its exit barely dented enthusiasm — issuers still in the arena continue to attract flows as the product family matures.
