Pundit Says Newly Launched Amplify XRP-Based ETF (XRPM) Not Bullish at All for XRP, Here’s Why

• XRPM ETF sparks controversy as critics argue it provides no buying pressure for XRP because it doesn’t hold the asset.
• Pumpius claims XRPM could even dampen XRP price momentum, calling it irrelevant or negative until spot-backed ETFs arrive.
• VanQish counters that XRPM is harmless “noise,” stressing that upcoming spot XRP ETFs are the true catalysts for supply reduction.

A heated debate has broken out across the XRP community after the launch of the new XRPM ETF by Amplify ETF, which is designed to monetize XRP’s volatility rather than accumulate the token itself. While some investors celebrated the product as another step toward broader market maturity, crypto commentator Pumpius argued the ETF provides no direct benefit to XRP’s price.

According to Pumpius, the fund has zero spot exposure to XRP, meaning it does not buy or hold the asset, does not contribute to supply absorption, and does not trigger any accumulation-driven demand. Instead, it generates yield by selling call options on XRP’s volatility.

Critic: “Zero Buying Pressure, Zero Price Impact”

Pumpius explained that XRPM’s structure is inherently non-bullish for XRP:

• The ETF profits when XRP trades sideways
• It “harvests volatility,” which can dampen upside price swings
• Investors are incentivized by yield—not by XRP’s appreciation potential

“In simple terms, it monetizes XRP volatility without creating any buying pressure on XRP,” he wrote.

Also Read: Unknown 57,182,067 XRP Transfer Ahead of Franklin Templeton XRP ETF Launch – What’s Going On?

Everyone is celebrating the new XRPM ETF, but let’s be honest
this is not bullish for XRP price itself.

Why?
Because the fund does not buy or hold any XRP at all.
Zero spot demand. Zero token accumulation. Zero effect on supply shock.

Instead it generates income by selling call… pic.twitter.com/dr1274B5Az

— Pumpius (@pumpius) November 17, 2025

He added that while the financial product may grow in popularity, it remains “irrelevant, or even negative, for price acceleration” until spot-backed ETFs or real on-chain liquidity demands come into play.

Rebuttal: “XRPM Is Just One ETF — The Real Price Movers Are Coming”

Crypto analyst VanQish pushed back strongly, arguing that Pumpius’ take “is half the battlefield.” While acknowledging that XRPM does not buy XRP, VanQish stressed that it is only one ETF among many, and that it was never intended to drive price.

“XRPM isn’t designed to pump XRP. It’s an income weapon that monetizes volatility,” he said. “But acting like that hurts XRP is where the shot goes wide.” He highlighted that several spot-backed XRP ETFs are set to launch within days, each of which must acquire physical XRP to support their products.

Spot ETFs: The “Live Ammo” Behind the Market Shift

VanQish listed multiple ETF types on the way, including accumulation ETFs, institutional custody ETFs, and settlement-focused ETFs, many of which require substantial XRP purchases.

These products, unlike XRPM, drain the circulating supply and could contribute to the supply shock many analysts have been predicting. “XRPM = doesn’t need to buy XRP. Spot ETFs = MUST drain the supply,” he emphasized.

VanQish characterized XRPM as a “distraction,” arguing that the real catalysts for XRP price movement are the spot ETFs and institutional settlement rails preparing to come online.

A Community Split but Energized

The discussion reflects a broader divide within the XRP community: some view volatility-based financial products as detracting from price momentum, while others believe they enhance market sophistication as XRP evolves into a fully integrated institutional asset.

With multiple XRP ETFs set to launch over the next week, the debate over XRPM may soon be overshadowed by the very products VanQish highlighted, those that could materially impact liquidity, supply, and XRP’s long-term valuation trajectory.

If you’d like, I can also create a headline-optimized version for Google News or a shorter, social-media-friendly version.

Also Read: Pundit: XRP is Facing a Supply Shock that Could Lead to Price Appreciation, Here’s How

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