The Bitwise XRP ETF has reached $561 million in assets under management (AUM), making it the largest spot XRP exchange-traded fund by assets, according to BSCN Newswire. The fund holds more than one-third of the sector's total assets, a position that underscores its lead as investors seek regulated exposure to XRP. Spot ETFs are watched as a gauge of where demand for a token is flowing, because they give investors price exposure through a brokerage-traded fund instead of direct ownership of the token.

The milestone arrives as spot XRP ETFs continue to attract capital despite fluctuations in the cryptocurrency's market value. Bitwise's fund reportedly stands more than $150 million ahead of some competing products, and its market share illustrates how investment demand is distributed among issuers. The figures place the Bitwise product in front of rival funds from issuers including Canary and Franklin Templeton.

BITWISE IS DOMINATING THE $XRP ETF MARKET! 💰 $561M+ in assets 🥇 #1 XRP ETF issuer 📈 $150M+ ahead of competitors 🏦 Over ONE-THIRD of total XRP ETF holdings! INSTITUTIONAL XRP EXPOSURE IS GETTING SERIOUS! 💥 pic.twitter.com/kAicPOAzNh

— XRP Update (@XrpUdate) October 17, 2026

Fund Structure and Fees

The Bitwise XRP ETF launched on November 19, 2025, trading under the ticker symbol XRP on the NYSE Arca exchange. According to its filings with the U.S. Securities and Exchange Commission (SEC), the fund seeks to reflect the value of its XRP holdings, minus operating expenses and other liabilities.

The fund invests in XRP directly rather than through derivative instruments, with Coinbase Custody providing custody services for its cryptoassets. This structure gives investors exposure to the token's market price without requiring them to custody the asset themselves. Its benchmark is the CME CF XRP-Dollar Reference Rate, New York Variant Index, which aims to track XRP's USD-denominated price based on trading activity across leading cryptocurrency exchanges.

The ETF charges an annual management fee of 0.34%. At the reported $561 million in assets, that equals roughly $1.91 million per year, assuming no change in the asset value and no fee waiver. Because the fee is calculated as a percentage of assets, that revenue rises and falls with the fund's AUM.

Market Share Shows Issuer Competition

Data cited by CryptoETF.today previously placed Bitwise's fund at $517.4 million, representing 33.8% of the sector. Canary followed with $457.8 million, while Franklin Templeton held $425.7 million. These figures differ from the reported $561 million milestone because asset values change with market prices and reporting dates.

The comparison highlights competition among established asset managers seeking to attract investors through exchange-traded cryptocurrency products, with crypto-focused issuers such as Bitwise and Canary competing alongside traditional asset managers like Franklin Templeton. However, the latest figures should not be treated as a perfectly synchronized ranking unless all issuers are measured using the same reporting date and methodology.

For investors, AUM indicates a fund's size but does not by itself measure profitability, investment performance, or future demand. Comparing market share with trading volume, fees, and net inflows provides a more complete view of a product's standing.

Inflows Reveal Concentrated Demand

Weekly flow data also supports the picture of Bitwise's leadership. According to SoSoValue data, the fund raised $10.55 million out of the total $11.31 million invested in U.S. spot XRP ETFs over the period from October 5 to October 9. The same source states that net inflows into Bitwise's fund amounted to $688 million. The weekly figures underscore how concentrated investor demand has been in a single issuer's product.

Net inflows and assets under management are distinct metrics, however. While the former reflects the net difference between money entering and leaving a fund, the latter also includes changes in the value of assets held within it. As a result, high inflows can coincide with shrinking total assets if XRP's price declines.

Future weekly flow reports and updated AUM snapshots from these trackers will show whether that concentration holds as rival products continue competing for the same demand.

XRP Price Levels Could Influence ETF Valuations

XRP's market performance is another key factor in the valuation of funds that hold the token, since price movements feed directly into the value of spot ETF holdings. Crypto analyst EGRAG Crypto has emphasized XRP's 21-month, 50-month, and 100-month exponential moving averages (EMAs), comparing them with earlier market cycles and corrections.

Under the analyst's scenario, a breakout above $3.67 would serve as a key confirmation point, followed by possible Fibonacci levels at $5.25, $6.33, $8.28, and $13.69. These figures are presented as technical estimates and do not imply that any outcome is set in stone.

The analysis offers a separate perspective on the market conditions that could affect XRP ETF valuations. An increase in XRP's price would lift fund assets without new investment, while a decline would lower AUM even as new money arrives.

Disclaimer: This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always do your own research. This is not financial advice.