XRP Ledger Experiences Unusual Spike in Account Setup Following Spot ETF Launch

The XRP Ledger witnessed a record-breaking surge in account setup activity following the launch of US spot exchange-traded funds (ETFs). Over 40,000 configurations transactions were recorded in late November, marking the highest level of account setup activity in years. This spike continued beyond routine custodial updates from BitGo, suggesting that new institutional actors are preparing for significant operations on the network. $644 million in net inflows supports this claim.