XRP ETF Market Sees Massive Growth Despite Price Volatility
The value of XRP has been declining in recent days, reaching its lowest daily close. However, despite this volatility, institutions remain committed to the asset.
A significant development is that nearly 1 billion XRP have been locked out of circulation through XRP funds providing access to their ETF products.
This growth in XRP locked through ETFs has continued even as the price of XRP has declined. According to the latest data from the ETF tracker, seven XRP ETFs have collectively locked about 992.5 million XRP as of Thursday, August 13.
The cumulative net inflows across all existing XRP ETFs now stand at a massive $1.51 billion, signaling growth in the XRP ETF market. However, recent data shows that momentum is slowing and the funds are beginning to record little to no daily performance as their price continues to revisit its multi-year low.