XRP ETF Inflows Slump as Ledger Upgrade Delayed and Brazil Pilot Launched
Institutional interest in US-listed spot XRP exchange-traded funds (ETFs) saw a significant slowdown last week, with net inflows dropping to just $4.7439 million, far below the $75.5931 million recorded the previous week. The decline culminated in a net outflow of $3.28 million on Friday, the first negative session since September 18, entirely driven by Bitwise's ETF.
Meanwhile, large XRP token transfers were observed on major exchanges like Binance and Coinbase, with over 301 million tokens moved in a single day and 320 million-plus the next. These transfers suggest institutional players may be shifting holdings into private custody or over-the-counter arrangements, though the exact purpose remains uncertain.
On the protocol front, a missed voting threshold delayed the XRP Ledger upgrade known as PermissionDelegationV1_1, pushing its earliest activation to October 8. The delay triggered a two-week countdown, contingent on sustained validator approval. XRP is currently trading at $1.52, up 8.0% from its 50-day average of $1.41.
Ripple continues to expand its integration into regulated finance, with a pilot program in Brazil using the XRP Ledger for investment fund share registers. Additionally, Ripple CEO Brad Garlinghouse is set to deliver the opening address at the Swell industry conference in New York on October 27.