Last week, the broader cryptocurrency market suffered a disastrous wave of outflows across major exchange-traded funds. However, there was one notable expectation.
XRP ETFs managed to remain in the green with almost $23 million in net inflows while Bitcoin, Ethereum, and Solana investment products suffered massive capital flight.
Institutional money flows into XRP
According to the most recent data provided by CoinGlass, XRP ETFs pulled in $22.99 million in net inflows over the past week alone.
The Bitwise XRP ETF accounted for an impressive $16.97 million of those inflows, which allowed it to occupy the first spot. As reported by U.Today, Bitwise’s XRP ETF recently surpassed $200 million in year-to-date inflows.
Franklin Templeton’s offering, which is the only XRP ETF launched by a major traditional financial firm, secured $3.97 million and came in second place.
The total historical net inflow for XRP spot ETFs currently sits at $738.39 million, CoinGlass data shows. Bitwise’s XRP ETF remains in first position with $237.01 million in AUM. Canary XRP ETF follows closely with $218.26 million in AUM. Franklin XRP ETF is in third place with $162.16 million in AUM. Grayscale XRP Trust ETF has logged $49.53 million in AUM.
Terrible ETF outflows
The encouraging momentum for XRP funds stands in very sharp contrast to the disastrous outflows logged by other major cryptocurrency ETFs.
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The leading digital assets saw billions wiped from their institutional products:
Bitcoin (BTC) ETFs alone endured a staggering $1.79 billion in outflows.
At the same time, Ethereum ETFs experienced massive bleeding with $273.34 million leaving the funds.
Solana (SOL) ETFs logged a contraction with $3.8 million in net outflows.
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