[DigitalToday reporter Yoonseo Lee] Asset manager Bitwise’s XRP spot exchange-traded fund, XRP, has surpassed $500 million in assets under management in 9 months since its launch.

On Sept. 1 (local time), blockchain media outlet The Crypto Basic reported that the fund’s net assets stood at $507.23 million, the largest among XRP spot ETFs.

Bitwise cited continued support from the XRP community as a factor behind the result and said investor access to XRP investment products is expanding. Cumulative net inflows into the fund total $635.56 million, showing steady inflows since launch.

The result is drawing attention because Bitwise entered the XRP spot ETF market early during a period of high regulatory uncertainty. Bitwise was the first to apply for an XRP spot ETF in the United States in October 2024. At the time, the legal dispute between Ripple and the U.S. Securities and Exchange Commission had not ended.

The regulatory environment later became more unstable. The SEC signalled it would challenge the ruling in the Ripple case and moved into the appeals process. Even so, Bitwise did not withdraw its application. The company continued the approval process and launched the ETF on Nov. 21, 2025. Bitwise sees the decision as having ultimately been meaningful because demand continues to grow for XRP investment products that clear regulation.

Bitwise is also maintaining its lead in market share. Net assets in the Bitwise XRP spot ETF accounted for 34.98 percent of total net assets of $1.45 billion in the XRP spot ETF market. Franklin followed with about $370 million, and Canary had about $341.6 million. 21Shares had $153.05 million, and Grayscale held about $83.03 million in net assets.

Inflows have also continued. On Aug. 31, trading volume in the ETF exceeded $3 million and net inflows for the day came to $930,420. Daily inflows are not large compared with cumulative figures, but it was confirmed that investment continues to come in even after it crossed $500 million.

The XRP spot price traded at around $1.35. It was down 2.52 percent over the past 24 hours and down 7.11 percent over the past week. The move aligns with a broader cryptocurrency market trend of giving back some recent gains.

Bitwise’s latest record shows that money in the XRP spot ETF market is concentrating into a specific product. The core of the result is that its strategy of applying for the product early, then pushing through approval and launch, has led to a larger market share. A key question going forward is whether Bitwise will maintain its lead and whether later products such as Franklin and Canary will narrow the gap.

14 years in, and the ripple:native community continues to be unstoppable. The Bitwise XRP ETF (XRP) crossed $500,000,000 in AUM—just 9 months after launch. Grateful for the chance to expand mainstream access to XRP and steward investors’ exposure to the opportunities in this… pic.twitter.com/sgeMDiY5ce