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XRP ETF Attract $1.55M As Major Crypto Funds Turn Red

20h05 ▪ 4 min read ▪ by Luc Jose A.
Getting informed Altcoins
Summarize this article with:

During the session on September 8, XRP ETFs recorded $1.55 million in net inflows. Such a result places XRP ahead of bitcoin, Ethereum, and Solana for one day, without calling into question the cumulative dominance of Bitcoin funds.

Four huge financial pipes are lined up in a Wall Street-style institutional room. Three pipes associated with major crypto assets violently expel coins and capital outward, illuminated by a dark red light. The fourth, bearing the XRP symbol, operates in the exact opposite direction: a powerful torrent of orange capital flows into its tank. In the foreground, an institutional trader stares at XRP in amazement while his colleagues watch the other three installations empty out.

In Brief

  • XRP ETFs capture $1.55 million, alone in the green on September 8.
  • Bitcoin, Ethereum, Solana, and Hyperliquid record net outflows in the same session.
  • XRP’s lead remains punctual, far behind Bitcoin on cumulative and weekly flows.
  • XRP climbs back around $1.43, with an increase close to 3%.
  • Several positive sessions will be needed to confirm a lasting capital rotation.

XRP ETFs Alone Attract New Capital

In the United States, listed XRP ETFs resumed inflows after a session with no flow at all. Net subscriptions reached approximately $1.55 million.

At the same time, the three other categories recorded outflows. Bitcoin ETFs notably interrupted a run of three consecutive sessions in the green in the data provided by SoSoValue.

Flows obtained on September 8 are distributed as follows :

  • XRP ETFs received $1.55 million ;
  • Bitcoin ETFs lost $46.65 million ;
  • Ethereum ETFs had $24.29 million in withdrawals ;
  • Solana ETFs recorded an outflow of $667,720.

Regarding ETFs linked to Hyperliquid, they also lost $12.96 million. XRP funds are therefore the only products to have collected new capital among these five categories.

However, this first place remains relative. The amount obtained by XRP ETFs is 30 times less than the outflows observed on Bitcoin funds. Indeed, their lead mainly comes from the other products turning red.

This Lead Is Limited to One Session

The five spot XRP ETFs manage $1.51 billion in assets. Thus, their cumulative net inflows approach $1.69 billion, according to reported figures.

The $1.55 million recorded on September 8 represents less than 0.1% of this historical total. These products attracted about $173 million over a month. The last session therefore accounts for only 0.9% of this amount.

Furthermore, the comparison with bitcoin is even more unbalanced. Bitcoin ETFs accumulate nearly $55.59 billion in net inflows. This amount exceeds that of XRP funds by about 33 times.

This gap is confirmed by weekly data. In the week ending September 4, Bitcoin ETFs collected $986.9 million. As for XRP funds, they collected nearly $19 million during the same period.

On a specific session, XRP outranks other cryptos. However, it does not dominate weekly flows nor cumulative subscriptions. Several positive days would be needed to confirm a lasting capital rotation.

XRP Price Rises Around $1.43

XRP moved nearly 3% up after the inflows of September 8. Its price thus returned to the $1.43 zone, after many sessions marked by weaker activity.

This simultaneous increase does not prove that ETFs triggered the rise. The $1.55 million received remain modest compared to volumes traded daily on spot and derivatives markets.

ETF flows also do not allow precise identification of final buyers. They measure creations and redemptions of shares but do not always distinguish institutional investors from other actors.

The next confirmation will depend on the regularity of subscriptions. Thus, XRP ETFs will need to maintain positive flows over several sessions, while bitcoin and Ethereum remain under pressure. Otherwise, this outperformance will remain a simple daily gap.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.