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.
