TLDR
- XRPR is the first US-listed spot XRP ETF and hit $100 million AUM in 30 days.
- Brazil’s XRPH11 launched earlier but holds only $52 million in total assets.
- SEC delays on other spot XRP ETFs helped XRPR capture early market demand.
- CME Group reported $26.9B traded in XRP futures and options since May.
The REX-Osprey XRP ETF (XRPR), the first spot XRP exchange-traded fund listed in the United States, has surpassed $100 million in assets under management just one month after its launch. This milestone comes amid delays in the approval of several other spot XRP ETFs in the U.S., making XRPR a key focus for market participants tracking institutional interest in the cryptocurrency.
Rapid Growth in AUM for XRPR
The REX-Osprey XRP ETF launched in September and has quickly gained traction among investors. According to the issuer, XRPR reached $100 million in assets under management within the first month. The ETF provides direct exposure to XRP, which is currently the fourth-largest cryptocurrency by market capitalization.
XRPR is the first fund of its kind in the U.S. to offer spot access to XRP rather than derivatives or futures. The strong start comes during a period of uncertainty around ETF approvals, with the U.S. Securities and Exchange Commission (SEC) yet to approve several other pending applications for similar products.
The growth of XRPR is seen by market participants as a sign of demand for regulated investment options in the digital asset space. Its early success also places it ahead of international competitors in terms of asset accumulation.
Brazil’s XRPH11 Launched First but Lags Behind in AUM
In Brazil, Hashdex was the first to launch a spot XRP ETF under the name Hashdex Nasdaq XRP Fund (XRPH11). This ETF was listed earlier in 2025 and has so far gathered around 282 million Brazilian reais in assets, equivalent to approximately $52 million.
While XRPH11 had the first-mover advantage globally, it has not seen the same level of growth as its U.S. counterpart. The difference in AUM between the two ETFs shows a stronger appetite for spot XRP exposure in the U.S. market, possibly due to broader access and deeper capital markets.
Despite the slower growth, XRPH11 remains important for the Brazilian crypto market. Hashdex is one of the leading digital asset managers in Latin America, and the ETF continues to offer regional investors a way to gain regulated exposure to XRP.
Regulatory Delays Create Opportunity for XRPR
The SEC has delayed decisions on at least six other spot XRP ETF filings. These delays follow a temporary government shutdown that caused a backlog in agency operations. With no clear timeline for when the pending applications will be reviewed, XRPR has become the only available option for U.S. investors seeking direct exposure to XRP through an ETF.
This gives REX-Osprey a unique position in the market. Investors interested in XRP now have a limited choice, which may explain the fast accumulation of assets. As regulatory clarity improves, other products may enter the market, but for now, XRPR is the only one approved.
A representative from REX-Osprey stated, “We are pleased with the reception of XRPR. The demand reflects growing interest in XRP from a wide range of investors.”
Rising Institutional Interest in XRP
Institutional activity around XRP is also increasing. CME Group has recently added XRP options to its list of crypto products. This follows high demand for XRP futures and micro XRP contracts, which have seen over 567,000 contracts traded since May. The total notional volume from those trades reached around $26.9 billion.
In addition, a new treasury company called Evernorth has announced plans to hold XRP as a core reserve asset. The company is also preparing for a listing on Nasdaq, which further signals a shift in how traditional firms view XRP.
These developments suggest that XRP is becoming more integrated into mainstream financial markets. With both trading volume and product offerings expanding, XRP continues to attract attention from both investors and institutions.
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