The debut of the Rex-Osprey XRP ETF spurs a 2% price increase for XRP, with trading volume surpassing expectations, signaling strong investor demand.
XRP price rose to $3.11 after a 2% increase, fueled by the launch of the Rex-Osprey XRP ETF, the first U.S. exchange-traded fund giving exposure to the asset. The ETF saw nearly $25 million in volume within the first 90 minutes of trading. Bloomberg’s Eric Balchunas expressed surprise at the volume, which was five times higher than any previous XRP futures ETFs on day one. The ETF launch follows new SEC regulations allowing more crypto products, potentially opening doors for additional altcoin ETFs.