Franklin Templeton's XRP Holdings Jump as Bitwise Fund Sells
Franklin Templeton's spot XRP ETF purchased $2.25 million of XRP on Wednesday while Bitwise's competing fund sold $1.55 million, leaving U.S. spot XRP ETFs with net inflows of $708,510. Separately, Franklin added $150 million in fund shares to the XRP Ledger in a single transaction Thursday.
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Diverging ETF Flows
U.S. spot XRP ETFs recorded their first net inflow in a week on Wednesday, October 21, totaling $708,510, according to flow data tracked by 99Bitcoins. Franklin Templeton's XRPZ fund led the buying with $2.25 million in purchases, while Bitwise's competing XRP ETF withdrew $1.55 million, leaving the sector with modest positive flows. The past two weeks have shown little sustained momentum, with most trading days in October producing flat or negative net flows across the spot XRP ETF complex.
Large Ledger Deposit
Franklin Templeton made two separate subscriptions to the XRP Ledger on Thursday that moved $150 million in fund shares into a single wallet, according to CoinDesk reporting. The deposits nearly quadrupled the fund's token holdings on the network in one transaction. The receiving wallet shares authorized signers with the fund's issuer, suggesting the movement was an internal consolidation rather than a third-party transfer.
What the Flows Signal
The divergence between Franklin's buying and Bitwise's selling suggests mixed institutional sentiment toward XRP as a spot ETF holding. Franklin's $150 million ledger deposit indicates active management and positioning on the underlying network, though the intent behind consolidating holdings into a single wallet remains unclear. The modest weekly inflow figures across the XRP ETF category stand in contrast to earlier 2024 momentum following the launch of spot Bitcoin and Ethereum products.
Why It Matters
For Traders
Diverging flows between the two largest XRP ETF providers suggest uncertain directional momentum; watch whether Franklin's $150M ledger position triggers on-chain activity in the coming days.
For Investors
Franklin's aggressive accumulation alongside Bitwise redemptions signals a bifurcated institutional view; the ledger consolidation may indicate preparation for a specific product or network event.
For Builders
Large fund share movements on XRP Ledger demonstrate institutional infrastructure engagement beyond spot holdings; the scale suggests custodial or collateral use cases merit monitoring.
This article is for information only and is not financial advice. Read the full disclaimer.
