XRP ETF Investments Plunge as Whales Step In to Buy

The recent weekly investments into XRP exchange-traded funds (ETFs) dropped by an astonishing 93% to $1.01 million, down from $14.86 million the week before. This significant decline makes XRP an outlier among top crypto assets, with rival crypto funds enjoying strong demand from institutional investors.

Bitcoin ETFs pulled in over $754 million, while Ethereum ETFs captured nearly $195 million during the same period. However, data shows that the largest crypto holders, or 'whales,' used the price dip as an opportunity to add more XRP tokens to their wallets.

Data from Santiment reveals that giant whale wallets holding between 100 million and 1 billion tokens increased their share of the total supply from 10.66% to nearly 11.99%. Meanwhile, smaller whale accounts holding 10 million to 100 million tokens sold early in the month but turned back into buyers on August 6.

A closer look at daily numbers shows that most of the weak ETF performance occurred early in the week. On August 5, XRP funds lost $3.58 million, but the trend reversed quickly on August 6 when they pulled in $3.45 million in new inflows.