XRP Spot ETFs Surge Past $100 Million in August Inflows

XRP spot exchange-traded funds (ETFs) have seen significant net inflows in August, reaching $28.14 million on a single day and pushing cumulative monthly inflows to over $108 million.

This surge in demand for XRP spot ETFs has been consistent across multiple products, with the Bitwise XRP spot ETF drawing $13.12 million (46% of total net inflows), followed by the Franklin XRP spot ETF and the Canary Capital XRP spot ETF at $9.00 million and $6.01 million respectively.

The trend shows that XRP's price and ETF inflows do not necessarily move in tandem, with the asset's value fluctuating while net inflows continue to rise.