Stocks may be rallying, but cryptocurrencies and Bitcoin are still getting wrung outStocks may be rallying today, but Bitcoin (BTC) is still stuck in the mud. The volatile cryptocurrency is down 3.9% so far today and has shed 23% in the past month. The slump has dragged BTC exchange-traded fund (ETF) iShares Bitcoin Trust ETF (NASDAQ:IBIT) deep in the red as well, attracting increased options activity.IBIT is down 3.8% to trade at $47.07, heading for its eighth loss in the last nine trading sessions. The ET ...

Core Insights - Bitwise Asset Management launched its Spot XRP ETF on the New York Stock Exchange on November 20, securing the ticker symbol "XRP," indicating strong exchange confidence in the product as a primary liquid vehicle for institutional investors [1] - The ETF has a unitary management fee of 0.34%, which will be waived for the first month on the first $500 million in assets [2] - The ETF is physically backed, holding actual XRP rather than derivatives or futures contracts [2] Competitive Landscape - Bitwise is now the second player in the US spot XRP market, following Canary Capital's launch of the first product on November 13, with Franklin Templeton expected to launch its offering on November 24 [4] - The sequence of launches suggests a growing institutional acceptance of XRP as an asset [4] - Bitwise previously launched a physical XRP ETP in Europe in 2022, and the US launch is part of a multi-year global strategy [4] Regulatory Environment - The ETF's prospectus cites legal clarity from the conclusion of the SEC vs Ripple litigation and relies on the GENIUS Act, enacted on July 18, 2025, which provides clear definitions for payment assets [6] - The GENIUS Act creates a jurisdictional carve-out for certain payment-focused digital assets, reducing SEC oversight [6] - This legislative clarity was a catalyst for the listing of these ETFs in 2025 [7] Market Metrics - XRP currently has a market capitalization of $127 billion, highlighting its significant presence in the crypto market [7] - The XRP Ledger has processed over 4 billion transactions since its inception, with an average daily volume of $1.9 billion [7]

Core Insights - The launch of the first U.S. spot XRP exchange-traded fund (ETF) by Canary Capital on November 13, 2025, was anticipated to be a significant event for Ripple's cryptocurrency, attracting nearly $250 million in inflows on its first day and achieving a record $58 million in trading volume [2][7]. Group 1: ETF Launch and Performance - The Canary XRP ETF, trading under the XRPC ticker, is the first U.S. spot ETF backed by XRP, utilizing an in-kind creation and redemption mechanism that allows authorized participants to deposit XRP directly with the fund, reducing tracking error and appealing to institutional investors [6]. - The ETF's debut generated the highest day-one trading volume among over 900 ETFs launched in 2025, indicating strong market interest [7]. - Despite the strong inflows, XRP experienced a decline of approximately 8% to 9% within a day, dropping from around $2.31 to the $2.20 range, highlighting the complex dynamics affecting the cryptocurrency market [3][4]. Group 2: Market Dynamics and Investor Sentiment - The in-kind creation structure of the ETF allowed holders to deposit tokens directly, which mitigated immediate impacts on the spot price, contributing to the price decline despite the ETF's success [4]. - A broader selloff in the cryptocurrency market led to $28 million in XRP liquidations within 24 hours as traders unwound leveraged long positions, further influencing the price drop [4]. - The strong inflow into the ETF reflects pent-up demand for regulated XRP exposure, as U.S. investors previously had limited access to XRP through trust products or offshore vehicles [8].

Core Insights - XRP is one of the oldest and most successful cryptocurrencies, launched by Ripple in 2012, currently valued at $139 billion, making it the fourth-largest cryptocurrency by market cap as of November 14 [1] - Over the past six months, XRP has decreased by 10%, underperforming compared to Bitcoin and Ethereum, but recent developments may provide a potential recovery [1] Group 1: ETF Approval - A spot XRP ETF has received regulatory approval and began trading on November 13, achieving $58 million in trading volume on its first day, the highest for any ETF launched this year [3] - Spot ETFs allow direct exposure to the underlying cryptocurrency, enabling institutional investors and retail investors to invest in XRP through retirement accounts [4] - Historical data shows that Bitcoin ETFs have attracted $59 billion and Ethereum ETFs have garnered $13 billion in inflows, indicating the potential for XRP's long-term growth prospects despite current market conditions [5] Group 2: Investment Considerations - Analysts from The Motley Fool Stock Advisor have identified ten stocks they believe are better investment opportunities than XRP, suggesting caution for potential investors [6] - The historical performance of stocks recommended by The Motley Fool indicates significant returns, highlighting the importance of thorough research before investing in XRP [7][8]

Core Insights - The approval of US spot XRP exchange-traded funds (ETFs) is expected to significantly boost the price of XRP, with predictions of a 21% increase to $2.75 due to cross-border liquidity and stablecoin initiatives [1][2] - XRP is currently trading at $2.27, which is nearly 40% below its all-time high of $3.65, amidst a broader market selloff of $1 trillion [2] - The first spot XRP ETF launched by Canary Capital saw a strong debut, attracting $250 million on its first trading day [2][3] Market Dynamics - Institutional investors are diversifying their investments, as evidenced by a significant outflow from Bitcoin and Ethereum ETFs, with $866 million and $260 million pulled respectively [3] - Predictions suggest that XRP ETFs could attract $5 billion in inflows shortly after their launch, indicating strong institutional interest [3] Upcoming Developments - A dozen US spot XRP funds are in the pipeline with major players like Grayscale, Franklin Templeton, and ProShares preparing for imminent launches [4] - Franklin Templeton, managing $1.5 trillion in assets, is set to introduce an XRP-linked product, XRPZ, expanding its digital asset offerings [5] - ProShares, known for launching the first US Bitcoin futures ETF, is also preparing to launch its UXRP product, further enhancing institutional access to digital assets [6]

Group 1: Market Overview - The new XRP exchange-traded fund (ETF) set a record for daily net inflows in 2025, while established Bitcoin and Ethereum funds faced significant outflows [1] - Bitcoin dropped below $98,500 for the first time in over six months, marking a 20% decline from its record high in early October [2] - Ethereum and Solana reached four- and five-month lows as investors moved away from risk-on assets due to a volatile U.S. economic and political environment [2] Group 2: Fund Performance - The 11 spot Bitcoin ETFs experienced nearly $867 million in asset outflows, the second highest in their 22-month history, while nine Ethereum funds saw an additional $260 million in outflows [1] - BlackRock's iShares Bitcoin Trust (IBIT) led the declines with over $250 million in outflows, while Fidelity Wise Origin Bitcoin Fund (FBTC) dropped more than $119 million [3] - IBIT has lost over $1 billion in the last 13 trading days, and FBTC has seen outflows exceeding $681 million [3] Group 3: New ETF Launch - Canary Capital's spot XRP ETF (XRPC) opened with $58 million in first-day trading volume, the strongest debut of any ETF this year [4] - Initial projections for XRPC's inflows were around $17 million, but it surpassed that within half an hour, outperforming the Bitwise Solana Staking ETF (BSOL) [5] - BSOL opened with $57 million and has generated over $550 million in net inflows, although it only totaled $1.5 million on Thursday [5]

Core Insights - XRP is on the verge of a significant turning point with the imminent launch of the first exchange-traded fund (ETF) centered around the token [1][4] - The Canary Capital has filed with the SEC, potentially allowing the first spot ETF for XRP to be listed on the Nasdaq exchange soon [1][7] Market Position - XRP has a market capitalization of approximately $141 billion, making it the third-largest cryptocurrency, following Bitcoin and Ethereum [3] - Tether, while having a higher market cap of $183 billion, is often excluded from cryptocurrency rankings [3] ETF Details - The Canary XRP ETF is expected to trade under the ticker symbol (NASDAQ:XRPC) and will be accessible through major brokerages [5] - The ETF is projected to have an annual management fee of 0.5% [5] - The ETF will likely purchase XRP tokens, which could enhance bullish valuation momentum, although investors will not own the tokens directly [6] Regulatory and Market Impact - The ETF will provide regulatory protections that are not typically available in the cryptocurrency market [6] - The performance of XRP's token price will be a critical factor influencing the ETF's valuation [6] - The launch of the ETF could broaden the reach of XRP and accelerate its adoption trends [7]

Crypto firm Bitwise Asset Management's successful push to launch the first U.S. spot Solana ETF while the Securities and Exchange Commission was shut down has upended the regulatory playbook and force... ...

Core Insights - XRP experienced a 3.6% increase, reaching $2.31, surpassing the key resistance level of $2.28, driven by ETF momentum and network growth, which renewed institutional interest [1] - Trading volume surged by 86% above the 24-hour average during this breakout, marking the strongest close for XRP in over a week, outperforming Bitcoin and Ethereum amid a generally subdued market [1] ETF Developments - Canary Capital Group submitted an amended prospectus for its proposed Canary XRP ETF, moving closer to potential SEC approval under Section 8(a) [1] - The ETF is set to trade on Nasdaq under the ticker XRPC and will hold XRP in custody with Gemini Trust Company and BitGo Trust Company, using the CoinDesk XRP CCIXber 60m New York Rate as its pricing benchmark [1] - This filing follows a similar move by 21Shares, which initiated an automatic-effectiveness countdown for its own spot XRP ETF [1] Institutional Focus - Bloomberg's Eric Balchunas indicated that the dual filings could prompt the SEC's first decision on XRP-based ETFs, reflecting precedents established by previously approved Bitcoin and Ether products [1] - The filings coincide with a week of increasing institutional interest in Ripple, which announced new partnerships with Mastercard and WebBank for RLUSD settlement [1]

Core Insights - Ripple is expanding its institutional presence through strategic acquisitions and new product offerings, indicating preparation for a potential XRP ETF launch [1][5][6] Group 1: Product Developments - Ripple launched Ripple Prime, a digital asset spot prime brokerage platform in the U.S., following the acquisition of multi-asset broker Hidden Road [1][2] - Ripple Prime allows U.S.-based institutions to execute OTC spot trades across major digital assets, including XRP and RLUSD, and provides access to forex, derivatives, swaps, and fixed income products [2] - The platform features cross-margining capabilities, enabling clients to offset OTC spot exposure with holdings such as CME futures and options [3] Group 2: Strategic Acquisitions - Ripple acquired crypto wallet provider Palisade to enhance its custody and payments infrastructure [3][4] - Palisade's wallet-as-a-service technology will integrate into Ripple Custody, facilitating secure management of stablecoins, tokenized assets, and multi-chain DeFi integrations for banks and corporates [4] Group 3: Market Position and Partnerships - Ripple aims to become a leader in crypto-native financial infrastructure, having made earlier acquisitions such as Metaco (2023), Hidden Road ($1.25 billion), Rail ($200 million), and GTreasury [5] - The company holds over 75 global regulatory licenses and partners with institutions like BBVA, DBS, and Société Générale's crypto division [5] Group 4: ETF Speculation - Speculation is increasing regarding the imminent launch of an XRP ETF, with Canary Capital submitting an updated S-1 filing [6] - Bitwise and Grayscale have disclosed ETF fees of 0.34% and 0.35%, respectively, with expectations for spot XRP ETFs to launch within the next two weeks, possibly around November 13 [6]