US spot XRP ETFs have ended their two-month inflow trend, recording net outflows of $7.18 million during the recent trading week, while Bitcoin and Ethereum funds saw significant inflows leading to a market rebound.
Market Overview
From July 6 to July 10, optimism returned to the US cryptocurrency ETF market; however, XRP funds did not benefit from this trend. Despite institutional investors taking advantage of discounted Bitcoin (BTC) and Ethereum (ETH), XRP experienced a notable decline in inflows, according to data from SoSoValue.
The recent week marked the end of a positive inflow streak for XRP, which had seen steady growth prior. The drop in XRP inflows was primarily attributed to withdrawals from the Bitwise XRP ETF, which alone accounted for a $7.29 million decline. Notably, the selling surge occurred on July 8, while other major XRP fund issuers Canary, Franklin, and Grayscale saw no significant changes.
Comparative Performance
In contrast to XRP's struggles, the broader ETF market witnessed impressive recoveries. Bitcoin funds, for instance, reversed an eight-week losing trajectory, attracting a total of $197 million. Similarly, Ethereum funds recorded inflows of $84.42 million, emerging from a two-month decline. Altcoin funds also showed resilience, with HYPE-based products garnering $10.36 million and Solana ETFs bringing in $930,400. However, the 21Shares TOXR fund recorded a modest inflow of $107,400, which was insufficient to mitigate the overall outflows from XRP.
Despite the setbacks for XRP, experts suggest that this is not indicative of a systemic crisis, but rather a temporary pause. The aggregate net assets of the seven approved US XRP funds continue to hover around the significant $1 billion mark, standing at $996.65 million, reflecting stability despite the recent outflows.
This material is for informational purposes only and does not constitute financial advice.
