Two prominent asset managers, Bitwise and Grayscale, have confirmed the imminent launch of their spot XRP exchange-traded funds (ETFs).
This development follows Canary Capital’s debut of the first XRP ETF via the Form 8-A route last week. Now, Bitwise and Grayscale have announced that their own spot XRP ETFs are set to hit the U.S. market.
It’s happening! 🔥
Bitwise AND Grayscale have now confirmed spot $XRP ETFs are launching.
This is massive for #XRP adoption. pic.twitter.com/iWQm8JKpkO
— TheCryptoBasic (@thecryptobasic) November 20, 2025
Bitwise XRP ETF
According to an announcement on X, Bitwise XRP ETF (XRP) will begin trading today, November 20, on the New York Stock Exchange (NYSE). Notably, Bitwise was the first company to file for a spot XRP ETF in the United States. Its original October debut plan failed due to the prolonged government shutdown.
The firm later updated its S-1 filing on October 31, removing the delayed amendment and clearing the way for today’s launch. As a spot fund, the Bitwise XRP ETF will give investors direct exposure to XRP.
Although the fund charges a 0.34% management fee, Bitwise has waived the fee for the first month on up to the initial $500 million in assets, making the ETF more appealing to early investors.
Amid the debut, Bitwise outlined why XRP stands out, highlighting its long-running blockchain, its position as the third-largest non-stablecoin crypto asset, and its fast, low-cost transaction capabilities.
Grayscale’s XRP ETF Launch Imminent
Meanwhile, Grayscale also teased the upcoming launch of its converted spot XRP ETF. In January, Grayscale Investments submitted a filing to the U.S. SEC to convert its XRP Trust (GXRP) into a spot ETF.
After updating its S-1 filing with automatic effectiveness language on November 3, the Grayscale XRP ETF is now set to debut next week, on November 24. Bloomberg ETF analyst James Seyffart has also confirmed November 24 as the likely launch date for GXRP.
Our base case is that @Grayscale's XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF.
And I think the @FTI_US XRP ETF could go live on Monday the 24th as well. Lots happening next week. https://t.co/TkA6EE0D6T
— James Seyffart (@JSeyff) November 19, 2025
More XRP ETFs to Launch in November
Meanwhile, Seyffart added that Franklin Templeton may roll out its spot XRP ETF on the same day, November 24. 21Shares is expected to introduce its XRP ETF later this month, with several analysts projecting it could become effective by November 27.
In the meantime, the Canary XRP ETF (XRPC) is rapidly gaining traction. Launching less than a week ago, the fund has already accumulated nearly $300 million in assets. Its early success has fueled expectations that upcoming XRP-linked ETFs from Bitwise, Grayscale, Franklin, among others, could experience similarly strong demand.