In their first month of trading, XRP spot ETFs recorded significant success, achieving $643.92 million in cumulative net inflows. Data from SoSoValue shows that the total net assets of these products have reached $676.49 million, now representing 0.50% of XRP’s total market capitalization.
Key Performance Highlights:
- Strong Inflows: Daily net inflows were positive for most of the month, with peak sessions hitting $243.05 million (November 14) and $164.04 million (November 24).
- Leading Issuers: Funds from Grayscale, Franklin Templeton, Bitwise, and Canary drove the steady demand, pushing the total ETF-held XRP above half a percent of the circulating supply.
- Sustained Demand: Inflows increased for nine out of the ten most recent trading sessions, with $21.81 million recorded on November 26. This suggests institutions are still actively building their exposure.
- Volume and Price: Trading volume was resilient, reaching $38.12 million on November 26. Despite overall crypto-market weakness, the consistent ETF demand helped XRP maintain a trading price around $2.23.
- Future Competition: Other major asset managers, including 21Shares and WisdomTree, are lining up to launch their own XRP ETFs, signaling expected continued growth in the product class.
The steady accumulation, evidenced by Franklin Templeton holding 32.04 million XRP by November 25, indicates improved regulatory clarity and strong early institutional confidence in XRP.
Altcoin ETF Comparison:
While XRP ETFs saw robust demand, other altcoin ETFs launched around the same time—including Dogecoin, HBAR, and Litecoin—failed to garner similar institutional interest, with the Dogecoin ETFs from Bitwise and Grayscale only attracting around $2 million in their first two days.
