The cryptocurrency market is experiencing notable trends in institutional investments, with XRP ETFs witnessing substantial inflows while Bitcoin and Ethereum face capital outflows. In the past week, Bitcoin spot ETFs reported a net outflow of $526 million, and Ethereum lost $14 million in investments.
XRP and Solana Lead ETF Inflows
In contrast, XRP ETFs and Solana products attracted a combined total of $49 million in net inflows. According to data from CoinGlass, the market capitalization of XRP ETF products has increased to $690 million. Over their lifetime, these products have accumulated nearly 755 million XRP in net inflows.
On June 29 alone, XRP ETFs recorded a significant one-day inflow of 14.64 million XRP. Although the asset saw minor pullbacks of 2.68 million XRP and 1.79 million XRP on June 30 and July 1 respectively, the trend rebounded with an inflow of 6.22 million XRP on July 2, indicating strong ongoing demand.
Leaders in the XRP ETF Sector
The Bitwise XRP ETF currently leads the market with approximately $245.31 million in assets under management. The Canary XRP ETF follows with $225.91 million, while the Franklin XRP ETF manages $167.87 million.
Performance of Solana ETFs
Similarly, Solana ETFs have regained traction, with a net inflow of 77.07K SOL recorded on June 29. The Bitwise Solana Staking ETF dominates this sector with $595.88 million, reflecting significant institutional investment in Solana.
