XRP ETFs Defy Market Trend, Pull in Record Institutional Capital
XRP-based spot ETFs have been pulling in significant institutional capital, contrary to the trend seen in Bitcoin and Ethereum ETFs. This week alone, XRP ETFs drew in $18.98 million in inflows, while Bitcoin and Ethereum ETFs suffered a combined outflow of $479 million.
According to data from SoSoValue, U.S. spot XRP ETFs have now experienced nine consecutive weeks of positive inflows, with the last three sessions showing particularly strong results: $1.55 million on September 8, $12.29 million on September 9, and $5.14 million on September 10.
Bitcoin ETFs, on the other hand, have been experiencing outflows, posting three straight negative sessions totaling $449.45 million, with a staggering $282.56 million outflow on Wednesday alone. Ethereum ETFs also contributed to the outflow trend, losing $29.76 million on September 10.
Analyst SMQKE attributes XRP's success to its low correlation to Bitcoin, which allows it to decouple from the market leader and attract fresh institutional capital. WisdomTree data confirms this, showing XRP's correlation to Bitcoin at just 0.35, significantly lower than Ethereum's 0.71 correlation to Bitcoin.