The combined assets under management (AUM) of newly launched XRP exchange-traded funds are on track to surpass $1 billion within their first month of trading, according to latest data compiled by Finbold from real-time tracker of XRP spot ETFs XRP Insights.
As of November 28, 2025, total AUM across the five currently active ETFs stands at $801.7 million, with 339.16 million XRP locked, representing 0.339% of circulating supply, with an early-stage but tangible shift in institutional positioning toward the asset.
Canary Capital remains the ETF leader with 155.8 million XRP held, followed by Bitwise at 80.5 million. Daily combined trading volume currently stands at $42.79 million, with Bitwise leading trading activity at $15.3 million. The figures reflect robust participation from both institutional allocators and professional traders taking advantage of the vehicle’s liquidity and regulated structure.
XRP price as institutional demand accelerates ahead of 21Shares launch
Notably, XRP price remains stable at $2.21 at the time of publication, posting a modest 0.69% 24-hour and a massive 14.66% on the week.
The growth trajectory is likely to accelerate further with the imminent launch of 21Shares’ TOXR ETF, which received SEC Form 8-A approval on November 20 and is scheduled to begin trading on the Cboe BZX exchange on November 29 with a 0.50% management fee. Industry insiders expect the addition of TOXR to broaden access among both European and U.S. market participants, particularly those already onboarded through existing 21Shares digital asset products.
The first-month performance of XRP ETFs is noteworthy when compared to initial Bitcoin ETF flows in previous cycles, which displayed a slower start before scaling into structural demand vehicles. What differentiates XRP’s early reception is a combination of legal clarity following the 2023 court ruling, rising demand for non-Bitcoin settlement networks and growing traction within banking and enterprise blockchain pilots.
While current locked supply represents less than half a percent of total XRP circulation, analysts argue that the ratio is meaningful given the comparatively limited availability of institutional-grade vehicles previously supporting the asset.
XRP ETFs seeing huge capital inflows
The speed at which XRP ETFs have attracted capital suggests that institutional portfolios had been underexposed to the asset class and are now initiating risk-weighted entries. Moreover, the growth aligns with declining exchange reserves observed over recent weeks, a trend that may signal rotation into longer-term, custody-led positioning rather than speculative short-term trading.
If net flows remain stable across the next fortnight, the $1 billion threshold could be reached before December end, even without significant price appreciation.
With the 21Shares product ready to launch this week and additional applications expected to follow, momentum within the ETF segment may continue to build into the first quarter of 2026. Ultimately, how much capital migrates into structured ETF holdings versus self-custody environments will shape the asset’s liquidity profile going forward.
