Ripple has highlighted XRP’s institutional growth since the spot ETFs launch in November last year. The crypto firm noted how the crypto asset has grown through regulatory clarity, which it achieved through the long-running legal battle against the Securities and Exchange Commission (SEC).
Ripple Praises XRP’s Institutional Growth as ETFs See Demand
In a report, the crypto firm noted that since the launch of the XRP ETFs, the crypto asset has become one of the most actively adopted digital assets in the ETF market, with XRP attracting capital from some of the “most influential names” in TradFi. It is worth noting that Canary’s XRP ETF became the first ’33 Act spot XRP ETF, launching on November 13, 2025.
Ripple stated that the market’s response was swift and in some respect “surprising,” especially to those who assumed that XRP’s institutional adoption would lag that of Bitcoin and Ethereum. The firm noted that these ETFs did not record a single net outflow day in their first month of trading.
Furthermore, the report noted that by December, cumulative inflows had surpassed $1 billion, making XRP the fastest crypto asset to reach this milestone since the launch of Ethereum ETFs in 2024. Ripple added that these inflows grew to over $1.5 billion by March 2026, with five spot XRP ETFs trading in the U.S. and over 769 million XRP tokens locked across their combined custody arrangements.
The firm stated that these developments are worth attention, especially given that inflows held steady despite XRP’s price volatility. “It suggests institutions are making considered allocation decisions, not chasing short-term momentum,” they added.
The Ripple report also alluded to Bitwise CIO Matt Hougan’s prediction that XRP is likely to see substantially greater demand in a bull market, given the demand the ETFs are seeing in this bear market. It is worth noting that Wall Street giant Goldman Sachs is currently among the firms with the largest XRP exposure. Furthermore, as CoinGape reported, firms such as the insurance giant MassMutual also hold XRP ETF exposure.
“XRP As Infrastructure” And Not Just An Asset
Ripple also highlighted how XRP has played a key role as the utility token on the XRP Ledger (XRPL), especially as real-world tokenization continues to grow on the network. At the same time, XRPL’s daily transactions have increased by 3x from its mid-2025 average.
As CoinGape reported, XRPL daily transactions recently surged to a 2-year high of over 5 million. The report noted that the increase in network activity matters for ETFs because it indicates that institutional inflows are not disconnected from the underlying utility.
Ripple added that Goldman Sachs’s allocation of nearly $154 million to XRP ETFs, precisely as the network processes record transaction volumes, reflects that XRP’s infrastructure is being used and that institutions are positioning around that usage.
Meanwhile, the report also cited JPMorgan’s forecast that XRP ETFs may attract between $4 billion and $8.4 billion in first-year inflows. “Whether that materializes depends on broader market conditions, but the early trajectory has done nothing to undermine that thesis,” Ripple said.