Bitwise's XRP spot exchange-traded fund (ETF) posted a record daily trading volume since launch, topping $80 million.

On Aug. 25 local time, blockchain media outlet The Crypto Basic reported that trading in the product became more active as XRP rose and institutional investor interest grew.

Bitwise President Teddy Fusaro (테디 푸사로) said the XRP spot ETF's trading value in the latest session surpassed $80 million, the highest since its launch. Trading also exceeded $60 million in each of the previous two sessions, sharply lifting turnover over the past three sessions.

Inflows also continued. Based on Sosovalue data, Bitwise's XRP spot ETF recorded net inflows of $8.25 million in the latest session. Cumulative net inflows rose to about $550.93 million.

Bitwise is the largest manager of XRP spot ETFs by cumulative net inflows. Canary Capital follows with about $469.69 million, and Franklin Templeton with about $438.16 million. By contrast, Grayscale and 21Shares products had no net inflows on the day.

Cumulative net inflows for the overall XRP spot ETF market were estimated at about $1.57 billion, with total assets under management at about $1.44 billion. 21Shares was the only one to post a negative figure, with cumulative net outflows of about $20.10 million. Its assets under management, at about $159.90 million, were higher than Grayscale's $84.40 million.

The trend coincided with a period when XRP spot prices, derivatives markets and on-chain indicators were all strong. Last week, XRP climbed from $0.988 to as high as $1.70, rising more than 70 percent. Over the same period, active addresses jumped 655 percent, from 47,180 to 356,070.

The futures market also expanded. XRP futures trading volume on major exchanges rose to $11.37 billion, the highest since February. Large-scale exchange outflows also increased to 231 million XRP.

The rise in ETF net inflows and trading value is interpreted as a sign that participation in the XRP market is expanding. If fresh inflows and active trading continue, ETF liquidity could also improve. With cumulative net inflows across XRP spot ETFs nearing $1.6 billion, regulated investment products are taking a larger share of the XRP market.

XRP, however, fell about 1 percent over the past 24 hours, sliding back to $1.39. With ETF trading and inflows expanding, the next point to watch is whether XRP can recover the $1.40 level and extend its upward trend.

Volumes in the Bitwise $XRP XRP ETF have really popped over the last 3 sessions. Over $80 million traded today, and over $60 mm each of the prior two days - each of which would have been its highest volume day since inception. pic.twitter.com/wcEQk9nNrD