What to know:
- XRP ETF attracted $22.99 million in weekly inflows, lifting total NAV near the $1 billion milestone.
- Bitwise recorded $16.97 million in inflows, maintaining positive ETF flows across 149 trading days.
- XRP ETF nearing $1 billion NAV could unlock broader institutional investment and stronger market participation.
XRP ETF has continued to see strong institutional inflows despite the token experiencing one of its worst performances for the year. The latest flows data reveal that institutional players continue to take a bigger bite out of the token despite its 21.7% decline over the past month.
As per the information shared by Xaif Crypto through its BankXRP ETF Flow Tracker, powered by SoSoValue, the total net inflow into XRP ETFs for the last week stood at $22.99 million. The highest inflow was noted from Bitwise with an amount of $16.97 million, followed by Franklin Templeton with $3.97 million.
The joint net asset value (NAV) of the XRP ETF is now $934 million, which means that the industry is 93.4% towards its $1 billion target. Cumulative inflows, meanwhile, are at $1.47 billion. Provided that the trend is sustained, the industry may achieve its $1 billion NAV goal in the next couple of weeks.
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Why the XRP ETF’s $1 Billion NAV Milestone Matters
Breaking the one billion dollar asset barrier is more than just a milestone. There are many pension plans and endowments that actually have policies that restrict their investment in small ETFs.
However, when the market of a particular XRP ETF reaches that level, it becomes available for a wider base of institutional investors. It is crucial at the present moment since the total volume of assets in XRP ETFs approaches this critical level while the price of XRP lags.
Bitwise has also kept up with consistent demand for its services. Bitwise’s XRP ETF has experienced net positive flows on 149 out of 151 days of trading, which equates to a 98.7% positive flow rate. The latest flows came through at the same time as XRP was experiencing its big monthly fall in price.
XRP Price Remains Under Pressure
At the time of writing, XRP is trading at $1.05 with a 24-hour trading volume of $1.82 billion and a market capitalization of $65.34 billion. XRP price decreased by 0.11% over the last 24 hours.
The token began the month above $1.30, fell to about $1.05 on June 9th, rebounded back to $1.27 mid-month, before continuing lower again. At current prices, XRP is moving towards the critical $1.00 support zone, with little in the way of identifiable support above that level.
XRP ETF Demand Tells a Different Story
Despite the continued pressure on the price of XRP, XRP ETFs have seen constant inflows. These have witnessed one of their best weeks of inflows recently, along with the XRP ledger, which continues to be the number one blockchain for 60-day net inflows, with a total of $1.3 billion.
The gap between the price of XRP and the ETF has started to widen. While the market price suggests that there is further downside potential, the trend remains firmly upwards among institutional investors as XRP ETF assets approach the crucial $1 billion mark.
While it is still not clear whether price movement or the XRP ETF will turn out to be a stronger factor, the near $1 billion NAV point can come very soon, and the market will know it shortly.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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