Asset manager Bitwise's XRP spot exchange-traded fund (ETF) has been recorded as the first XRP spot ETF to exceed $500 million in cumulative net inflows.

As of July 7, its cumulative net inflows stood at $500.115 million, blockchain media outlet The Crypto Basic reported on the same day.

The key point is that inflows did not stop even during a period when XRP prices remained weak. The Bitwise product led the increase in funds in the XRP spot ETF market in recent weeks and also held the largest share of the overall market. Cumulative net inflows across all XRP spot ETFs totaled $1.49 billion, nearing $1.5 billion, with Bitwise accounting for 33 percent.

The Bitwise XRP spot ETF began trading on Jan. 2, 2026. There were no inflows on the first trading day, but from Jan. 5 it drew $16.61 million, accounting for 36 percent of total XRP spot ETF net inflows of $46.10 million at the time. On Jan. 7, the XRP spot ETF market recorded its first daily net outflow since launch, at $40.80 million, but $2.44 million flowed into the Bitwise product. On a day when the broader market saw outflows, the Bitwise product moved against the trend and helped reduce the day's overall outflow.

The subsequent trend was also steady. The Bitwise XRP spot ETF had no daily outflows in January and February 2026. Net inflows were $72.89 million in January and $32.26 million in February. The February figure was equivalent to 55 percent of the XRP spot ETF market's total net inflows of $58.09 million that month.

The product's first daily outflow came on March 6. Still, since its launch in late November 2025, there were only 7 days with daily outflows. Over the same period, the total XRP spot ETF market recorded daily outflows on 19 days. On a monthly basis, it never recorded net outflows. Following $72.89 million in January and $32.26 million in February, it posted net inflows of $7.02 million in March, $44.74 million in April, $49.48 million in May and $27.98 million in June.

In July, an additional $1.80 million flowed in. The Bitwise product first exceeded $500 million on June 29, with cumulative net inflows of $500.50 million, but briefly fell below $500 million in early July. Inflows then resumed, and it has now regained the $500 million level.

The gap with competing products also became clear. The earlier-listed Canary Capital XRP spot ETF had cumulative net inflows of $466.97 million and has yet to exceed $500 million. The Franklin Templeton ETF was third with $413.23 million, while Grayscale GXRP recorded $131.46 million.

This trend shows the concentration of funds within the XRP spot ETF market. With the Bitwise product accounting for one-third of total cumulative net inflows, it showed the strongest fund جذبtion among individual products. The overall market is nearing the $1.5 billion mark, and Bitwise is continuing the inflow trend at the forefront.