Bitwise CEO Hunter Horsley says the company’s XRP spot ETF has entered the top spot in the US market, outpacing rivals in the asset as the sector’s investment and asset base continues to expand.
“Bitwise XRP ETF (ticker: XRP) is now the largest XRP ETF in America. $10,000,000 in revenue so far this week. Thank you to the investors who trust Bitwise to look after their assets,” Horsley wrote on X.
Bitwise XRP ETF (table $XRP ) is now the largest XRP ETF in America.
$10,000,000 in revenue so far this week.
Thanks to the investors who pledged @Bitwise managing their property.
Continue –
— Hunter Horsley (@HHorsley) March 4, 2026
The XRP ETF market: By the numbers
SoSoValue’s US XRP spot ETF dashboard shows Bitwise’s portfolio is $289.00 million in total assets. That puts it ahead of Canary’s XRPC at $285.79 million, a gap of about $3.21 million, or about 0.3% of the category’s total of $1.08 billion.
The rest of the pack sits a tier below the leaders. Franklin’s XRPZ shows $247.27 million in total assets, 21Shares’ TOXR has $179.34 million, and Greyscale’s GXRP stands at $78.18 million. On the payment front, SoSoValue lists XRP at 0.34%, XRPC at 0.50%, XRPZ at 0.19%, TOXR at 0.30%, and GXRP at 0.35%.
Segment-level flow data shows the group took in $4.19 million in revenue as of March 4, pushing net inflows to $1.26 billion. Trading activity picked up again yesterday: the total amount traded reached $56.03 million during that period, while the total assets rose to $1.0796 billion – about 1.21% of XRP’s market cap.
Meanwhile, the flow history paints a very front-loaded launch. As of Nov. 13, 2025 to March 4, 2026, the sector logged 62 sessions with income, compared to six outgoing sessions (and another six flat days).
One big creative day was Nov. 14 with a total revenue of $243.05 million; the big rescue day came much later on Jan. 29, where the team posted $92.92 million.
That early surge is important because it still dominates the tape: about 77% of the total $1.26 billion in its portfolio came in the first four weeks after launch, and the average daily net revenue dropped significantly after that first run (about $48.5 million/day in the first ~20 sessions versus ~$5.3 million/day session).
The weekly ratings tell the same story: the first month repeatedly published nine people’s weeks, including the strongest week starting in Nov. 24 for a total revenue of $243.95 million. In contrast, the most recent four weeks averaged single-digit millions per week, and there were two weeks of net outflows overall — with the worst week starting on Jan. 26 for about $52.26 million.
Put differently, the “Bitwise is now too big” milestone is happening in a market that seems to have moved from start-up phase allocations to maintenance phase development, where rates can change on edge flow differentials and NAV movements.
At press time, XRP traded at $1.42.
The featured image was created with DALL.E, a chart from TradingView.com
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