Bitwise XRP ETF: The Institutional Demand Is Real. The Price Signal Isn't

The Bitwise XRP ETF is rated Hold due to the limited impact of ETF inflows on the underlying token's price and persistent price weakness. ETF access and liquidity have improved, with Bitwise leading daily trading volumes, but cumulative inflows remain a small fraction of XRP's $84B market cap. Regulatory clarity is improving, yet ETF demand has not translated into sustained upward price momentum for XRP itself.