XRP Spot ETF Inflows Halted by One-Day Net Outflow of $5.15M
The recent inflow run in XRP spot ETFs has come to an end after a net outflow of $5,153,410 on September 17. This is the first daily negative print during a stretch where about $192 million flowed in over the past month.
However, weekly cumulative flows remain positive, with a total of about $10 million in net inflows across five products. The outflow was concentrated in some products, with approximately $1 million leaving Canary Capital's XRPC and about $4 million exiting 21Shares' TOXR.
The decline in shares outstanding was only confirmed for XRPC, which fell to 23.30 million on September 17 from 23.40 million the previous day. It is unclear how the redemption was settled or what impact it had on the underlying XRP market.
ETF flows are not directly linked to spot supply and demand for XRP, making it difficult to determine the actual execution time, venue, and price impact of a specific trade.