Franklin’s XRP ETF Reaches $500M Inflows, Becomes Second to Hit Milestone

Franklin Templeton’s XRP ETF (XRPZ) has become the second spot XRP fund to cross the $500 million mark in cumulative net inflows.

The fund reached the milestone after the U.S. spot XRP ETF market recorded a strong inflow on Sept. 25. Specifically, the five spot XRP ETFs attracted a combined $22.65 million, marking their largest single-day inflow in the past month.

Only two XRP ETFs contributed to the Sept. 25 total. The Bitwise XRP ETF, XRP, recorded $18.39 million in inflows, accounting for 81% of the day’s total. Franklin’s XRPZ brought in the remaining $4.26 million.

Although Franklin’s inflow was much smaller than Bitwise’s, it was enough to push XRPZ’s cumulative net inflow from $496.7 million to $500.99 million at press time.

This marked the first time the fund had crossed the $500 million level since its launch. For context, XRPZ reached the milestone about ten months after launching in late November 2025.

Notably, by the end of 2025, XRPZ had recorded $242.58 million in cumulative net inflows. This indicates that the fund has attracted more than $258 million in additional capital this year, despite XRP’s continued price struggles.

Of this figure, XRPZ has brought in $38.13 million in inflows so far in September. XRP’s price recovery since August has helped bring renewed interest to regulated XRP investment products.

With $38.13 million in monthly inflows, September has become XRPZ’s third-best month, behind January with $59.83 million and May with $41.82 million.

September has also produced the highest trading volume for Franklin’s XRP ETF. The investment product has recorded $217.9 million in trading volume so far this month, beating its previous record of $176.44 million set in December 2025.

The latest $22.65 million inflow also pushed the combined cumulative net inflows across all five XRP ETFs to $1.79 billion. The total has continued to rise after falling to $1.39 billion on Sept. 17.

With XRPZ now at $500.99 million, Franklin has strengthened its position as the second-largest XRP ETF by cumulative net inflows. Canary Capital’s XRP ETF (XRPC) remains third with $489.37 million.

XRPC launched as the first pure spot XRP ETF in the U.S. market and initially had the first-mover advantage. However, Bitwise and Franklin have moved ahead of Canary this year. Currently, Bitwise remains the largest XRP ETF by cumulative net inflows, with $676.29 million.

Canary’s XRPC has also struggled to attract new capital in September. The fund has not recorded a single day of inflows since Sept. 1, when it received $3 million. It has recorded zero flows since then, apart from a $1.37 million outflow on Sept. 17.

XRPC now needs about $10.6 million in additional inflows to become the third XRP ETF to cross the $500 million cumulative net inflow mark.