The first U.S. spot XRP ETF, the REX-Osprey XRP ETF (XRPR), launched in September 2025 with unprecedented institutional demand, recording $37.75 million in trading volume on its first day—breaking the previous record for any U.S. ETF debut this year. Bloomberg analyst Eric Balchunas highlighted this milestone, noting it far surpassed the debut performance of futures-based XRP ETFs.
The ETF structure combines 80% direct XRP exposure with 20% in futures, Treasuries, and money market funds, offering investors both pure asset access and risk management. This launch coincides with significant crypto investment developments, including the SEC's approval of Grayscale's Digital Large Cap Fund, which includes XRP among other major assets.
Market experts now project a 95% likelihood of additional spot XRP ETF approvals in October, potentially driving $5 billion in new inflows within weeks. Analysts draw parallels to Bitcoin's 2024 ETF-led rally, suggesting XRP could see a 300% price surge if institutional demand persists. XRP is currently trading at $2.98, with technical charts indicating strong support above $1 and potential for breakouts to multi-year highs.
However, risks remain, including regulatory uncertainty or macroeconomic downturns that could dampen momentum. Despite this, growing futures open interest (reaching $1 billion on CME Group), expanding retail access, and robust institutional participation suggest a bullish trajectory toward the $5 target by end-2025.
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