Spot Ripple ETFs Hold More than $1 Billion in $XRP

U.S. spot XRP ETFs have crossed the $1 billion mark in total net assets. As of February 25, the funds collectively hold roughly 792.2 million XRP tokens, about 0.79% of the circulating supply. That milestone landed just over three months after these products first hit the market in November 2025, and cumulative historical net inflows now sit at $1.24 billion. Meanwhile, Bitcoin and Ethereum ETF products have been dealing with outflows, a divergence that says a lot about where institutional money is rotating right now.

How Have Recent Inflows Looked?

The numbers have been steady rather than explosive. Over February 24 and 25, spot XRP ETFs recorded a combined $6.13 million in net inflows. Breaking down February 25 specifically, the Bitwise XRP ETF (ticker: XRP) led with $2.30 million, followed by the Franklin XRP ETF (XRPZ) at $796,000, bringing the day's total to $3.09 million.

For the week ending February 23, inflows came in at $1.84 million, down from $7.65 million the prior week. The pace has cooled off, but the direction is still positive, and that consistency matters more than any single week's headline number.

Which Funds Are Active?

Five spot XRP ETFs are currently live in the U.S., according to SoSoValue data:

• Canary Capital (XRPC), net assets: $280.38M
• Bitwise (XRP), net assets: $278.22M
• Franklin Templeton (XRPZ), net assets: $243.49M
• 21Shares (TOXR), net assets: $180.07M
• Grayscale (GXRP), net assets: $78.42M

Bitwise has consistently been the volume leader, pulling in the largest share of daily inflows across most trading sessions.

What Is Driving the Interest?

A few things are working in XRP's favor at the same time. The token is trading around $1.44 as of February 26. But the story here goes beyond price.

The CLARITY Act's March 1 drafting deadline is creating regulatory anticipation. White House negotiators are pushing crypto and banking stakeholders to finalize compromise language for the market structure bill, with Ripple CEO Brad Garlinghouse putting the odds of passage by April at 80%. Ripple's RLUSD stablecoin is gaining adoption, adding utility to the broader ecosystem. And on-chain data from Santiment shows that 42 new wallets holding over 1 million XRP have appeared since the start of January, suggesting that larger players are quietly accumulating.

It is worth noting that total net assets actually peaked higher earlier this year at roughly $1.65 billion in January before market volatility brought it back down. The recovery above $1 billion shows that the dip was a buying opportunity for some, not an exit signal.

What Does This Mean for XRP Holders?

ETF products now represent a meaningful chunk of XRP's market. Total net assets account for about 1.19% of XRP's market cap, and that percentage has room to grow if inflows continue at their current pace.

The bigger picture here is legitimacy. When traditional finance vehicles hold over a billion dollars worth of an asset, it changes the conversation. XRP is sitting in regulated portfolios managed by firms like Franklin Templeton and Grayscale, and that carries weight.

The structural foundation underneath XRP looks stronger than it did six months ago. Sustained ETF accumulation during dips points to holders with longer time horizons than your average retail trader. Whether the price follows is still an open question, but that kind of steady institutional demand tends to create a firmer floor over time.

Sources:

• SoSoValue: Primary ETF dashboard providing AUM, daily and weekly inflows, cumulative net inflows, and individual fund breakdowns
• XRP Insights: Token holdings and circulating supply percentage for U.S. spot XRP ETFs
• CoinDesk: XRP price action, spot buying data, and ETF net asset totals
• CoinDesk: Santiment on-chain data showing 42 new millionaire wallets since January
• Daily Crypto Briefs: CLARITY Act March 1 drafting deadline details and Polymarket odds
• Fox Business via CoinGape: Brad Garlinghouse's 80% passage odds and White House negotiation updates