XRP ETFs See $121M Inflows, But Assets Shrink Amid Declining Price
The XRP ETFs have seen significant inflows this month, pulling in $121.4 million since September 21. However, despite the influx of new funds, the total net assets across the seven U.S. funds have actually shrunk to $1.69 billion, down from $1.77 billion just three days earlier.
The drop is due to the declining price of XRP, which has fallen from $1.66 on September 23 to $1.49 currently. As a result, the average ETF dollar is now underwater, with net assets slipping below the cumulative total of $1.79 billion invested in the funds.
Despite this, investors are still showing up for XRP ETFs, with Bitwise leading the pack with about $677 million in inflows, followed by Franklin Templeton's XRPZ at roughly $501 million. The two funds combined hold around 413.1 million and 293.1 million XRP, respectively.
The future outlook for XRP is uncertain, but traders are betting on a price rebound in October. Kalshi traders have priced a shot at XRP reaching $1.70 this month, while Ripple's upcoming escrow release of up to 1 billion XRP could also impact the market.