{"id":59687,"date":"2025-11-21T10:46:43","date_gmt":"2025-11-21T10:46:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=59687"},"modified":"2025-11-21T10:46:43","modified_gmt":"2025-11-21T10:46:43","slug":"xrp-etf-debut-battle-how-bitwises-launch-day-matched-up-against-canarys-xrpc","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=59687","title":{"rendered":"XRP ETF Debut Battle: How Bitwise\u2019s Launch Day Matched Up Against Canary\u2019s XRPC"},"content":{"rendered":"
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The Bitwise XRP ETF (XRP) began trading on the New York Stock Exchange yesterday, marking the second U.S. fund to offer direct 100% exposure to the Ripple-linked asset.<\/p>\n

Despite a sharp downturn across the wider crypto market, the new fund saw approximately $26 million in trading volume on its first day.<\/p>\n

A Strong Debut Amid Market Turmoil<\/h2>\n

This debut follows the record-setting launch<\/a> of the Canary XRP ETF (XRPC) just a week prior, which saw nearly $60 million in first-day volume.\u00a0Bitwise\u2019s entry was closely monitored, with Bloomberg reporting it neared $22 million in volume just a few hours into the session.<\/p>\n

By the closing bell, the final tally reached<\/a> $25.9 million, translating to over 1.1 million shares traded. Social media commentator Chad Steingraber, who posted real-time updates on the day of the launch, noted<\/a> the fund\u2019s volume passed the $23 million mark with ninety minutes left to trade.\u00a0This performance makes it the third biggest ETF debut of the year, after Canary\u2019s XRP offering and Bitwise\u2019s Solana ETF.<\/p>\n

However, it came against a difficult backdrop for digital assets. On the same day, Bitcoin fell<\/a> to a seven-month low near $88,000, dragging major altcoins like Ethereum and XRP down with it.<\/p>\n

The Ripple token\u2019s price tested<\/a> the critical $2.00 support level, a key zone that analysts like CasiTrades have identified as potentially marking the bottom of its current correction. It has since given in, and the asset now trades well below it.<\/p>\n

Market Impact and Future Outlook<\/h2>\n

The immediate success of two XRP-focused ETFs has sparked discussion about their long-term effect on the token\u2019s supply. In a series of posts on X, Steingraber projected<\/a> that if the current adoption rate continues, ETF issuers could collectively acquire millions of XRP tokens daily.<\/p>\n

He suggested that with just two funds, daily acquisitions could already be around 6 million XRP, potentially growing significantly as more products enter the market.<\/p>\n

This institutional demand could create a new dynamic for the underlying asset, which has one of the most dedicated retail communities in crypto, often referred to as the \u201cXRP Army.\u201d<\/p>\n

The post XRP ETF Debut Battle: How Bitwise\u2019s Launch Day Matched Up Against Canary\u2019s XRPC<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitwise XRP ETF (XRP) began trading on the New York Stock Exchange yesterday, marking the second U.S. fund to offer direct 100% exposure to the Ripple-linked asset. Despite a sharp downturn across the wider crypto market, the new fund saw approximately $26 million in trading volume on its first day. A Strong Debut Amid […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-59687","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/59687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59687"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/59687\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}