XRP ETF Reaches Major Milestone
Just one month after its launch, the first Ripple (XRP) exchange-traded fund trading in the US has crossed the $100 million threshold. The REX-Osprey XRP ETF, known as XRPR, reached a new all-time high of $100,891,000 in assets under management according to data shared by ETF issuer REX Shares. This milestone comes after the fund’s launch on September 18, 2025, and represents significant early adoption for a cryptocurrency ETF product.
I think what’s interesting here is the timing. The fund managed to hit this mark relatively quickly, which suggests there might be more institutional interest in XRP than some people expected. But we should be careful about reading too much into early numbers – sometimes initial enthusiasm doesn’t always translate to sustained growth.
Institutional Interest Shows Signs of Growth
Additional data from CME Group points to growing institutional activity around XRP. The XRP and Micro XRP futures contracts, which launched back in May, have seen more than 567,000 contracts traded to date. That’s generated a total trading volume of $26.9 billion, which is quite substantial for a relatively new futures product.
The price action has been positive too. XRP rose 3.59% to $2.63 in the last 24 hours, bringing its total market capitalization to $157.81 billion. While that’s still well below Bitcoin’s market cap, it’s a significant position in the broader cryptocurrency landscape.
Important Context About the ETF Structure
There’s an important distinction to make here. XRP spot ETFs haven’t actually been officially launched in the US with SEC approval. The Rex-Osprey XRP ETF product was launched in a different form that didn’t require SEC approval, which is why it’s able to operate while other spot cryptocurrency ETFs remain in regulatory limbo.
This distinction matters because it means the fund operates under different rules and protections than a fully SEC-approved spot ETF would. Investors should understand that this isn’t the same type of product they might be familiar with from Bitcoin or Ethereum ETFs.
What This Means for XRP’s Future
Crossing the $100 million mark is psychologically significant for XRP supporters. It shows that there’s demand for regulated exposure to the cryptocurrency, even if through alternative structures. The combination of the ETF’s growth and the futures trading volume suggests that institutional players are becoming more comfortable with XRP as an asset class.
But I’m not entirely convinced this necessarily translates to broader market acceptance. The regulatory environment for XRP remains complex, and the ongoing legal situation with the SEC creates uncertainty that could affect long-term adoption. Still, $100 million in AUM within a month is nothing to dismiss lightly.
Perhaps the most telling development will be whether other financial institutions follow with similar products, or if this remains a niche offering. The next few months should give us a better sense of whether this is the start of a trend or just an isolated success story.
