XRP ETFs Shine as Crypto Market Corrects
The crypto market experienced a mixed day on Tuesday, September 8, as total market capitalization fell by 0.33% and wiped out $8.88 billion in value.
XRP exchange-traded funds (ETFs) bucked the trend by recording positive capital flows, while other cryptocurrencies saw significant outflows.
Bitcoin led the decline with a 0.81% drop, pushing most crypto ETFs into outflows. However, XRP products moved against the trend as XRP's price recovered during the session.
XRP ETFs recorded $1.55 million in inflows on Tuesday, making them the only crypto spot funds to record positive flows that day.
The Franklin Templeton XRP ETF (XRPZ) generated all $1.55 million in XRP ETF inflows, lifting its cumulative net inflows to $474.23 million and keeping it as the third-largest XRP ETF by total flows.