XRP ETFs Launch on NYSE: Franklin Templeton, Grayscale, and Bitwise Drive Institutional Wave

The XRP market is entering a defining moment as Franklin Templeton and Grayscale prepare to list their XRP ETFs on the NYSE Arca on November 24, 2025, marking one of the most significant developments in digital asset integration with traditional finance. The approval, granted under the Exchange Act of 1934, removes the final regulatory barrier and positions XRP ETFs at the center of institutional attention. The Franklin Templeton XRP ETF and Grayscale XRP Trust ETF will join existing products like Bitwise’s XRP ETF (NASDAQ:XRPI) and REX Osprey XRP ETF (BATS:XRPR), accelerating a shift toward regulated crypto investment vehicles designed to attract large-scale capital flows.

XRPI ETF: Market Reaction and Institutional Volume Spike

NASDAQ:XRPI, representing the Bitwise XRP ETF, closed at $11.40 (-3.06%), with after-hours trading lifting it to $11.53 (+1.14%). The ETF’s day range of $11.08–$11.72 highlights compressed volatility following the prior week’s selloff that pushed prices to a one-year low of $11.08, well below the 2025 high of $23.53. Average volume of 626,000 shares confirms heightened institutional engagement after the NYSE listing announcement. Despite the near-term pullback, the ETF has drawn significant inflows, echoing Bitwise’s earlier XRP ETP, which raised $230 million in European markets and now oversees over $330 million in combined XRP exposure across vehicles. The immediate U.S. adoption through XRPI adds liquidity depth and regulatory confidence that was absent from the crypto-native exchanges.

XRPR ETF: REX Osprey Strengthens ETF Competition

The REX Osprey XRP ETF (BATS:XRPR) settled at $15.98 (-3.21%) with a day range between $15.62 and $16.36 and an average daily turnover near 49,000 shares. The ETF, which launched earlier this year under the 1940 Investment Company Act, remains one of the most efficient passive exposure vehicles to XRP performance. Its 52-week range of $15.62–$25.99 demonstrates the significant volatility that has accompanied crypto-linked equity instruments. XRPR’s management approach—focusing on custody transparency and on-chain proof of reserves—has earned credibility with conservative investors wary of direct token holding. With the upcoming entry of Franklin Templeton and Grayscale, XRPR’s early presence gives it strategic first-mover advantage within the XRP-linked ETF cluster.

Institutional Catalysts: Franklin Templeton and Grayscale ETFs Enter NYSE

Both Franklin Templeton and Grayscale have received NYSE Arca listing approval, completing regulatory clearance for their XRP ETFs. Franklin Templeton’s filing introduces a spot ETF backed by physical XRP holdings, providing exposure to the underlying token’s price while maintaining compliance under SEC custody frameworks. Grayscale’s ETF conversion, transitioning its existing XRP Trust into a fully tradeable ETF, marks the firm’s expansion beyond Bitcoin and Ethereum ETFs, positioning XRP as its next flagship digital product. Market analysts anticipate over $500 million in day-one volume combined from both launches, following Canary Capital’s record-setting XRP ETF debut earlier this month, which ended its first trading session with $59 million in volume and $250 million in AUM.

XRP-USD Market Impact and Technical Outlook

XRP-USD trades at $2.06 (+6.9%), recovering from its November lows near $1.80. Despite ETF approvals, XRP has faced heavy whale liquidation, with approximately 200 million XRP sold in two days after the Bitwise ETF debut. This sell pressure reduced the percentage of XRP supply in profit to 58.5%, the lowest level since 2024. RSI data near 24 signals oversold conditions, and analysts identify $1.77–$1.80 as a potential double-bottom support. Volume has spiked 48% to $9 billion, representing 8% of total circulating supply—a strong indicator of accumulation at key price zones. The next resistance is set near $2.30 (+21%), and a break above that level could confirm a mid-term reversal toward $2.60–$2.80, supported by ETF-driven liquidity.

Regulatory and Structural Shifts Favor Institutional Inflows

The U.S. Securities and Exchange Commission (SEC) approval of multiple altcoin ETFs—including XRP and Dogecoin—marks a strategic shift toward legitimizing crypto exposure in traditional portfolios. The 21Shares TOXR ETF, Franklin Templeton XRP ETF, and Grayscale XRP Trust ETF collectively signal a new stage in crypto asset normalization. These funds enable exposure via brokerage accounts, bypassing custody risks associated with private wallets. BNY Mellon and Coinbase Custody have been confirmed as authorized custodians, adding institutional-grade assurance. This framework has already driven substantial allocations from family offices and hedge funds, viewing XRP ETFs as diversification tools amid crypto’s migration into the regulated market domain.

Liquidity Expansion Through Multi-Issuer ETF Ecosystem

The XRP ETF ecosystem now spans five active listings—XRPI (Bitwise), XRPR (REX Osprey), XRPC (Canary Capital), XRPM (Amplify Income ETF), and the upcoming Franklin Templeton and Grayscale launches. Together, these products could attract over $1.5 billion in AUM by early 2026. Their combined inflows are expected to tighten XRP’s float, increasing scarcity on spot exchanges. Institutional investors—previously deterred by custody complexity—are now entering through regulated ETF wrappers. The result is a gradual transition of XRP liquidity from offshore venues to U.S.-based markets, creating a structural uplift in volume transparency and regulatory oversight.

Market Context: Altcoin ETFs Broaden Crypto Acceptance

Grayscale’s simultaneous approval for both XRP and Dogecoin ETFs underlines the growing SEC openness to diversified crypto ETFs beyond Bitcoin and Ethereum. Bloomberg ETF analyst Eric Balchunas projects that DOGE ETF trading volume could reach $11 million on day one, paralleling the scale expected for the XRP ETFs. These ETF approvals coincide with a rebound in broader crypto ETFs: Bitcoin ETFs added $238 million in net inflows, while Ethereum ETFs gained $55 million, marking a recovery across the sector. The synchronized inflow into XRP-linked funds reinforces investor sentiment that regulatory green lights could fuel a multi-chain ETF cycle, diversifying crypto capital beyond Bitcoin dominance