US XRP ETFs Outpace Token Surge by 100%

A sharp price gap has emerged in the US stock market, where spot XRP ETFs are rising twice as fast as the token itself. While the token is posting an intraday gain of 7%-8%, shares of some regulated funds are surging by 16%-17%. The anomaly was first pointed out by CryptoQuant analyst 'Xaif_Crypto', who noted that all seven spot XRP ETFs in the US entered the green during trading, with an interim trading volume of $19.7 million.

The performance of instruments listed on the NYSE and Nasdaq diverged, with major funds from Bitwise (XRP: +8.47%) and Franklin Templeton (XRPZ: +8.36%) moving in line with the spot market. However, products with lower net assets broke sharply away from it: Grayscale shares (XXRP) are up 17.10%, XRPT has gained 16.78%, and UXRP has risen 17.01%.

This divergence is likely linked to a local supply-and-demand distortion in US exchange order books, triggered by the sharp move in the underlying asset. As a result, market orders pushed ETF share prices higher, creating a substantial premium to the net asset value of their underlying holdings (NAV) and allowing the funds to outperform the token's daily advance by around 100%.