The market’s two largest assets, Bitcoin and Ethereum, suffered significant multi-million dollar capital flight over the past week, but XRP and ETH have managed to buck the bearish trend.
Bitcoin spot ETFs experienced a punishing net outflow of $526 million while Ethereum investment vehicles shed a modest $14 million.
In sharp contrast, XRP and Solana pulled in a combined $49 million in positive weekly net inflows.
Growing appetite for spot XRP ETFs
XRP ETFs continue to show impressive resilience due to steady institutional demand.
According to the data from financial data platform CoinGlass, the total market capitalization for all combined XRP ETF products has climbed to an impressive $690 million.
Cumulative net inflows across the historical life of these spot products have reached a staggering 754.78 million XRP.
Daily transaction logs show that the positive weekly performance was driven by heavy accumulation.
For instance, on June 29, the market logged a massive single-day inflow of 14.64 million XRP.
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Although the asset experienced brief, minor capital pullbacks over the subsequent two days (2.68 million XRP on June 30 and 1.79 million XRP on July 1), the momentum quickly turned back to positive territory on July 2 with an additional single-day injection of 6.22 million XRP.
The Bitwise XRP ETF (1XRP) currently leads the sector with $245.31 million in assets under management. It is followed by the Canary XRP ETF (2XRPC) at $225.91 million and the Franklin XRP ETF (3XRPZ) at $167.87 million.
Solana ETFs are back in the green
Solana similarly demonstrated strong resilience. Daily movement metrics show institutional buying stabilized rapidly over the week, printing a massive 77.07K SOL net inflow on June 29.
The Bitwise Solana Staking ETF (BSOL) commands a staggering $595.88 million in assets, representing the lion’s share of institutional capital allocated to the network.
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