Bitwise XRP ETF Passes $500 Million as Ripple Expands Institutional Push

Bitwise fund extends lead among spot XRP ETFs

Bitwise’s spot XRP ETF has climbed above $500 million in assets under management roughly nine months after launch. After Monday’s close, the fund held about $507 million, according to the source report.

The broader US spot XRP ETF segment had brought in a record $1.66 billion in cumulative net inflows by the end of last week. Within that group, Bitwise remains the leader, with more than $600 million in cumulative inflows, ahead of rival products from Canary Capital, trading under XRPC, and Franklin Templeton’s XRPZ.

The latest milestone points to continued demand for regulated XRP exposure even as the token has retreated from its August peak. The inflow figures suggest investors have continued allocating to the category despite weaker short-term price momentum.

Ripple and SettleMint launch custody and tokenization offering

Ripple Labs has entered a partnership with SettleMint focused on institutional digital asset infrastructure. The companies said they are integrating Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform.

The combined offering is designed to let regulated financial institutions custody, issue, and manage tokenized assets through one system. According to the report, the service is already live in Asia, with further expansion planned.

The target users include banks, market infrastructure operators, and sovereign entities. Ripple’s institutional solutions support assets including RLUSD and XRP, and the partnership gives Ripple broader exposure to tokenization, a market that BCG has estimated could reach $88 trillion over the next decade.

Evernorth advances toward proposed Nasdaq debut

XRP-focused treasury company Evernorth has cleared another step in its path toward a public listing. The US Securities and Exchange Commission has declared the registration statement tied to its planned merger effective.

Shareholders of merger partner Armada Acquisition Corp. II are scheduled to vote on the transaction on September 30. If they approve it, the combined company is expected to trade on Nasdaq under the ticker XRPN.

Evernorth has disclosed more than $1 billion in gross proceeds from investors that include Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital. Its stated strategy is to hold and actively manage XRP as a corporate treasury asset.

Price remains below key resistance

XRP was trading around $1.35 at the time referenced in the source article, giving it a market capitalization close to $85 billion. The token had slipped about 2% over the previous few days and was down roughly 6% on the weekly chart.

Market views remain mixed. Some analysts still see $1.70 as the next major upside target if the recent breakout remains intact. Others are focusing first on resistance in the $1.40 to $1.43 range, followed by $1.50.

That leaves the near-term setup relatively clear: bulls need to reclaim those levels to improve momentum. If XRP fails to break above them, analysts cited in the report warn that the weakness could deepen and push the price back below $1.30.

What comes next

The next confirmed milestone in this set of developments is the September 30 shareholder vote on Evernorth’s merger with Armada Acquisition Corp. II, which will determine whether the company can proceed toward trading on Nasdaq as XRPN.

Beyond that, the recent updates indicate that activity around XRP is increasingly tied to institutional products and infrastructure, from ETF flows to custody and tokenization services. Whether that support translates into stronger price action may depend on XRP’s ability to recover the resistance levels now in focus.