XRP rose 9% to $2.03, pushing its market capitalization above $135 billion after the debut of spot ETFs managed by Franklin Templeton and Grayscale. The move coincided with the launch on NYSE Arca of XRPZ (Nov. 24, 2025) and GXRP (Nov. 25, 2025), which attracted significant inflows in their opening sessions.
The initial impact was quantifiable, with XRP recovering around 20% from its monthly lows and posting a one-off jump of 9% to $2.03. Franklin Templeton premiered XRPZ on Nov. 24, 2025, and Grayscale launched GXRP on Nov. 25, 2025, both on NYSE Arca, anchoring the week’s trading narrative around the new spot products.
On its debut, XRPZ rose 8.7% from its initial price of $22.60 and recorded $4.00M in volume from 176,191 shares. GXRP attracted $67.36M in net inflows and recorded trading volume of $6.52M on its first day, underscoring substantial early interest in the newly listed funds.
Market implications for XRP
The arrival of these ETFs has opened a competitive phase in institutional management. Franklin Templeton applies an annual fee of 0.19% for XRPZ, while Grayscale offered a promotional 0% fee during the first three months for GXRP, suggesting a battle for market share that may affect flows and the cost structure for institutional investors and corporate treasuries.
The entry of multiple managers is already visible, expanding competition for institutional and retail demand. In addition to Franklin Templeton and Grayscale, firms such as Bitwise, 21Shares and WisdomTree compete to capture interest, and prior funds boosted the narrative of broader altcoin adoption as the market tests sustained appetite.
Analysts and banks had anticipated a high probability of these launches, framing expectations for approvals and inflows. Bloomberg showed high expectations for approvals, JPMorgan projected a scenario of billions in flows toward XRP ETFs, and Franklin Templeton described XRP as “foundational,” highlighting the manager’s strategic bet on the asset.
Operationally, institutional liquidity can tighten spreads and link prices more closely to flows, while ETFs offer a regulated path for treasuries. For traders, the correlation between price and flows may increase; for treasuries, custodial ETF wrappers avoid direct token custody. However, fee competition and early concentration of flows raise relative volatility and the risk of reversals as any promotional period expires.
The launch of XRPZ and GXRP marked a visible injection of institutional demand that lifted XRP by 9% and rekindled the discussion about integrating altcoins into regulated markets.
