XRP Investors Undeterred by Paper Losses, Keep Buying ETFs

XRP investors continued to pour money into exchange-traded funds (ETFs) despite their paper losses totaling $746.1 million at the end of June, according to SEC filings.

The five major US spot XRP products held a combined fair value of $947.3 million, but this was below their accounting cost of $1.693 billion by 44.1%.

In the first half of the year, these funds recorded $629.9 million in primary-market share creations against $309.1 million in redemptions, resulting in a net capital activity of $320.8 million.

This 'surprisingly resilient' demand for XRP ETFs was noted by Bloomberg ETF analyst James Seyffart in an August post, where he put cumulative net inflows across the asset class at $1.8 billion.