Bitwise crypto investment products recorded about $300 million in combined trading volume on Aug. 19, with the Bitwise XRP ETF making up roughly 6% of the total.
This comes as the broader crypto market remains under pressure, with the market losing about $580 billion in value this year. Despite the consistent decline, crypto investment products have continued to draw renewed investor attention.
Bitwise ETFs Post $300 Million in Volume
Hunter Horsley, CEO of Bitwise, revealed the figures in a recent disclosure on X and highlighted the top five contributors to the company’s total ETF volume.
Specifically, the Bitwise Bitcoin ETF (BITB) led the group with $156 million in trading volume, followed by the Bitwise Solana ETF (BSOL) with $58 million.
Meanwhile, the company’s Hyperliquid ETF (BHYP) ranked third with $45 million, while the Ethereum ETF (ETHW) followed with $35 million.
The Bitwise XRP ETF (XRP) ranked fifth, recording about $20 million in trading volume on Aug. 19. Based on Bitwise’s figures, the XRP product accounted for 6.6% of the total trading volume across all Bitwise ETFs.
XRP ETF Volume Reaches Highest Level Since May
Data from Sosovalue, a crypto analytics platform, put the Bitwise XRP ETF’s trading volume slightly higher at $22.77 million on Aug. 19. This marked the product’s highest single-day trading volume since May 14, when XRP traded at around $1.54.
Trading activity also picked up across the broader XRP ETF market. Notably, the five XRP ETF products together recorded $31.66 million in trading volume on Aug. 19, marking the highest daily figure since mid-June.
However, the jump in trading volume did not lead to a similar increase in new capital entering the Bitwise XRP ETF. The product recorded just $1.19 million in inflows on Aug. 19. This figure is well below the $7 million in inflows recorded on May 14, when the ETF posted a similar level of trading activity.
Bitwise XRP ETF Maintains Lead
Despite the relatively small inflow, the Bitwise XRP ETF still recorded the largest single-day inflow among all XRP ETFs on Aug. 19. The Franklin Templeton XRP ETF (XRPZ) followed with $1.16 million, while the other three XRP ETF products recorded no inflows.
The latest figures also bolster Bitwise’s position as the largest XRP ETF by both cumulative net inflows and net assets. Notably, the Bitwise product recently moved ahead of the Canary Capital XRP ETF (XRPC) and has continued to widen its lead.
For context, the Bitwise XRP ETF now has $515.9 million in cumulative net inflows, compared with $468 million for XRPC. This gives Bitwise nearly 34% of the total cumulative net inflows across all XRP ETFs.
The gap also extends to assets under management. The Bitwise XRP ETF holds approximately $322.71 million in net assets, compared with $247.73 million for XRPC. While the latest trading figures show renewed activity around XRP ETFs, Bitwise remains the leader in both investor inflows and total assets among XRP ETF products.