XRP ETFs have now crossed the $1 billion mark in cumulative net inflows, becoming the second fastest to reach this milestone, only behind Bitcoin ETFs.
This is according to data aggregated by market analytics resource Sosovalue. Notably, the four XRP ETFs ended the previous week with $990.91 million in cumulative net inflows.
XRP ETFs Finally Cross $1B Net Inflows
They finally hit the $1 billion mark following a $10.89 million daily inflow on Dec. 15, starting the week on a strong note while the broader crypto ETF market witnesses mixed performances. This came nearly two weeks after they crossed the $800 million marker.
Of the $1 billion cumulative net inflow figure, the Canary Capital XRP ETF (XRPC), which launched first on Nov. 13, contributes the most, amounting to $376.5 million. Meanwhile, the Grayscale XRP ETF (GXRP) accounts for $219.76 million, while the Bitwise XRP ETF (XRP) sees $212.58 million. For the Franklin Templeton XRP ETF (XRPZ), the fund has seen $192.96 million in net inflows.
XRP Becomes Second-Fastest to Hit the Milestone
Interestingly, the XRP ETF products crossed the $1 billion net inflow milestone 21 days after the launch of the first product, making them the second-fastest crypto funds to reach this level, only behind Bitcoin ETFs, which hit the same milestone after only four days.
Notably, despite XRP being much smaller than Ethereum in market size and the lack of XRP ETF products from heavyweights like BlackRock and Fidelity, XRP beat ETH in the time taken to hit the $1 billion inflow mark. For context, even with products from Fidelity and BlackRock, it took Ethereum ETFs 96 days to reach the same mark.
Specifically, after their launch on July 23, 2024, the Ethereum ETFs underperformed immensely, seeing net outflows from July 24 to 29. Over the next weeks, the products saw mixed netflow performances, unlike XRP ETFs, which have maintained a positive net inflow record since launch. Ethereum ETFs only crossed $1 billion in cumulative net inflow on Dec. 5, 2024.
One of the factors that contributed to XRP’s feat was the ETFs’ impressive run of form since their launch last month. Specifically, the XRP ETFs have not recorded a single day of net outflows since they began trading in mid-November, maintaining their positive streak despite the market weakness.
Solana Products Lag
While Solana ETFs also saw a similar perfect record for the first 21 days of trading, from Oct. 28 to Nov. 25, they only hit $621.32 million in cumulative net inflows on the 21st day due to their lower daily inflow figures. The Solana ETFs have still not crossed the $1 billion marker, currently at $676 million in cumulative flows, despite launching nearly two weeks before the XRP funds.
Notably, the latest XRP ETF milestone comes a week after Ripple CEO Brad Garlinghouse commended the products for reaching $1 billion in total net assets. Today, the products now boast $1.12 billion in total net assets following the latest performance. However, actual figures from the issuers themselves may vary.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
