Since the launch of the first XRP ETF in November, the ecosystem continues to gain traction with strong daily inflows and surging trading activity.
Amid soaring demand from institutional investors, the ecosystem recorded another high total trading volume today, but this time Bitwise took the lead with the highest trading volume recorded today.
According to recent data shared by prominent media person Chad Steingraber, Bitwise’s XRP ETF has secured the top spot in terms of daily trading volume, largely contributing to the total trading activity of all XRP ETFs recording $19 million.
Bitwise leads with volume of $5.07 million
According to data provided by Chad, Bitwise alone has generated $5.07 million in volume since trading began today.
In early intraday trading, the fund outperformed Franklin Templeton’s $4.43 million, Canary Capital’s $2.82 million, Rex Osprey’s $1.85 million and Grayscale’s $1.32 million.
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At that time, the total trading volume achieved across all XRP ETFs amounted to a whopping $15.48 million. Now, that amount has increased to $19 million, but Bitwise still maintains its position as the fund with the highest volume of trading today.
XRP ETF approaches $1 billion milestone
The strong performance extends to all existing XRP funds, as the XRP ETFs collectively approach the $1 billion AUM milestone.
As of Wednesday, December 3rd, the combined AUM of the five products has reached $909.74 million, and it looks like the XRP ETF won’t be far off from surpassing the massive $1 billion milestone in just about two weeks since its launch.
According to people familiar with the matter, approximately 400 million XRP is stored in ETF vaults due to the rapid increase in total assets under management.
While these strong performances continue to garner hype and strengthen XRP’s bullish momentum, the major altcoin posted significant daily gains over the past day, returning to the $2.22 level after a tough multi-day correction.
