XRP ETFs Hoard 1.18 Billion XRP as Ripple Readies a 1 Billion Unlock

The Number on the Dashboard

Across seven funds, custodians hold 1,179.62 million XRP, equal to 1.18% of the fixed 100 billion supply, with combined assets of about $1.82 billion. The split is top-heavy:

• Bitwise’s fund holds 413.1 million XRP
• Franklin Templeton’s XRPZ 293.1 million
• Canary Capital’s XRPC 249.8 million

Behind them sit 21Shares’ TOXR at 107.4 million, Grayscale’s GXRP at 59.8 million, Rex-Osprey’s XRPR at 35.2 million and 21.2 million inside Bitwise’s broader index fund, BITW.

Various XRP trackers also flagged the milestone yesterday, noting that 48.39 million XRP were added in week 39 alone. Funds are not the only corporate buyers circling the asset, as XRP treasury firm Evernorth has put the XRP community at the center of its Nasdaq listing plans, a clear indicator of regulated wrappers and balance sheets competing for the same coins.

Every XRP that lands in an ETF vault comes off exchange order books, which is why traders watch the custody tally as closely as the price.

Where Did Last Week’s Money Go?

Almost all of it went to two issuers, with Sosovalue data showing XRP ETFs took in $75.59 million from Sept. 21 to Sept. 25. Amidst these movements, Bitwise drew $58.99 million and Franklin Templeton $16.60 million, lifting their cumulative inflows to $677 million and $501 million.

XRP Insights’ weekly supply report shows small outflows in coin terms on Monday (716,000 XRP) and Friday (473,000 XRP), sandwiched between three strong days of roughly 10 million to 12.7 million XRP each. Its window, Sept. 18 to Sept. 26, adds up to 34 million XRP, which is why trackers using different cutoffs report different weekly totals.

Cumulatively scored, one can see that the total net assets stand at $1.77 billion against $1.79 billion in cumulative net inflows. In other words, the average dollar that entered these funds is sitting slightly underwater, a gap Bitcoin.com News also saw when it found the average long-term trader still down 11.75% after the recent rebound.

What Does Thursday’s Unlock Actually Mean?

Ripple’s onchain escrow holds 31.98 billion XRP, about 32% of supply, with another 4.74 billion in operational wallets. The next monthly window opens Oct. 1 and can release up to 1 billion XRP.

Put those side by side and the scale is striking, as one month’s maximum escrow release is about 85% of everything U.S. ETFs have accumulated since launch. Historically, unused amounts have been re-locked, so the release ceiling is rarely what actually reaches the market.

Exchange balances paint another story, given publicly attributed exchange wallets held 21.14 billion XRP, after a net drop of 625.9 million XRP across tracked wallets during the week, according to the report.

XRP’s Price Hasn’t Followed

XRP is currently trading near $1.48 on Binance, down about 2% on the day and below the $1.66 high it tagged on Sept. 23. Kalshi traders who priced a $1.70 September print now have two days left.

The broader market isn’t helping either, with bitcoin’s price sliding to $82,705 today even after U.S. spot bitcoin ETFs absorbed $2.39 billion in the same week, roughly 32 times XRP’s haul. Veteran trader Peter Brandt has argued the charts give him reason to bet on XRP, but steady inflows alone have yet to push the price through resistance.