Bitwise’s spot XRP exchange-traded fund has crossed $500 million in assets under management just over nine months after it began trading, the asset manager announced on Aug. 31. The fund launched on the NYSE on Nov. 20, 2025, and Bitwise said continued capital inflows have helped offset a drop of roughly 66% in XRP’s price from its 2026 high. The company added that after 14 years the XRP community ‘continues to be unstoppable’ and that it welcomed the opportunity to expand mainstream access to the token.
Other XRP ETF providers are also drawing capital. Franklin Templeton’s XRPZ took in about $28.7 million during the week of Aug. 24–28, making it the clearest recent challenger to Bitwise. Canary Capital’s XRPC remains among the larger products overall, while Grayscale’s GXRP and 21Shares’ TOXR operate on a smaller scale. Tracker data put total XRP ETF assets under management near $1.53 billion, with Bitwise holding approximately 364.8 million XRP.
In a separate disclosure, New York Stock Exchange-traded closed-end fund C1 Fund Inc. reported Ripple Labs as its largest holding at 17.5% of net assets, narrowly ahead of Kraken parent Payward Inc. at 16.9%. The fund said Ripple Labs’ partial share buyback program helped deliver a return on investment of roughly 150% over four months. As of June 30, C1 Fund had 77.5% of its capital, or $33.07 million, deployed across 11 private digital companies, including Polymarket.
Traditional funds are also adding exposure. Kinetics Internet Portfolio disclosed in an SEC NPORT-P filing that it holds 1,875 Class A Ripple Labs shares valued at $246,000, while Goldman Sachs reported $86.5 million allocated across five XRP ETFs in August 13F filings. Jane Street increased its Bitwise XRP ETF stake to 1.2 million shares. The SEC also approved Evernorth Holdings’ Form S-4 for a SPAC merger and Nasdaq listing under the ticker XRPN, with a treasury of 473 million XRP.
Ripple Labs is expanding its financial instruments in parallel. Its Ripple Prime division closed a $275 million private bond placement rated BBB by KBRA and became a partner in the Clearpool credit fund for fintech loans denominated in the RLUSD stablecoin. The disclosures show large capital is splitting bets between pre-IPO Ripple equity and regulated XRP exchange-traded products.
