Key Takeaways
- • US spot XRP ETFs added $740,400 on October 14, all into the Bitwise XRP ETF, extending a 13-week inflow streak to a cumulative $1.803 billion.
- • Combined net assets of the spot XRP funds stood at $1.509 billion on October 14, $294 million below total investor inflows, meaning ETF holders are sitting on losses at current prices.
- • The six US spot XRP ETFs held 1.17 billion XRP as of the October 13 close, or 1.19 billion XRP including the Bitwise 10 Crypto Index ETF, equal to 1.19% of the fixed 100 billion XRP supply.
- • Daily flows have shrunk to well under $1 million a day, versus a $11.3 million weekly total for October 5 to 9 and roughly $939 million to $954 million in the first month after launch.
- • Exchange wallets holding XRP rose by 1.68 billion tokens (worth about $2.22 billion at $1.32) in the week to October 10, nearly 200 times the prior week's ETF inflows.
Summary
US spot XRP ETFs recorded $740,400 of net inflows on October 14, with the entire amount going to the Bitwise XRP ETF, according to TradingNews. The other issuers recorded flat flows that day, while US spot Bitcoin ETFs lost $261.4 million, Ether ETFs lost $129.5 million and Solana ETFs lost $1.29 million. XRP funds were the only major crypto ETF category in positive territory. The inflow extends a 13-week streak of net inflows that has brought cumulative net inflows to $1.803 billion.
The streak is thinning. On October 13, the funds added 531,980 XRP, worth $723,500, and on October 12 they recorded no net flows, the fourth day in October with no capital movement. Last week was stronger: US spot XRP ETFs attracted $11.3 million between October 5 and October 9, led by Bitwise with $10.55 million and Franklin Templeton's XRPZ with $4.1 million, while Canary Capital's product recorded $3.34 million in outflows. Single-fund days are common; on October 8, XRPZ accounted for the entire $8.17 million inflow.
The token has weighed on fund values. XRP opened Thursday at $1.3314, dropped to an intraday low of $1.2867 after the US producer price release, and recovered above $1.32 in the afternoon. The token fell 14.5% from October 4 and 7.3% during the week of October 5 to 9. Combined net assets of $1.509 billion on October 14 sat $294 million below the $1.803 billion in cumulative inflows. Total net assets represent 1.79% of XRP's market capitalization of $82.52 billion, compared with Bitcoin ETFs' equivalent of 6.35% of Bitcoin's market cap.
The fund lineup is concentrated. The six US spot funds are XRPC, XRP, XRPZ, GXRP, TOXR and XRPR. Bitwise's cumulative inflows reached $688 million, while Canary's XRPC held $493.33 million in cumulative inflows at the end of September against $372.89 million in net assets. Franklin Templeton's fund holds 299.1 million XRP. REX-Osprey's XRPR is the smallest dedicated product at $48.3 million in assets. With Bitwise driving most inflows, a single large redemption could flip the weekly streak negative.
The Volatility Shares XRP ETF (NASDAQ: XRPI) provides futures-based exposure, launched May 22, 2025, and carries a 1.68% expense ratio, against 0.75% for REX-Osprey's XRPR, which holds assets designed to track XRP's spot value and trades on Cboe. XRPI's shares have traded between $5.42 and $17.95 over the past year, and it fell 69.3% over the 12 months through July. Both funds have thin trading volume, with XRPR averaging 46,199 shares a day.
Supply flows dwarf ETF demand. Publicly attributed exchange wallets held 21.98 billion XRP as of October 10, up from 20.30 billion on October 3. The source characterizes exchange deposits as typically preceding selling, and argues that the scale of ETF buying is too small to offset that supply. Thursday's flow data, due after the close, will show whether the streak holds.
The streak is thinning. On October 13, the funds added 531,980 XRP, worth $723,500, and on October 12 they recorded no net flows, the fourth day in October with no capital movement. Last week was stronger: US spot XRP ETFs attracted $11.3 million between October 5 and October 9, led by Bitwise with $10.55 million and Franklin Templeton's XRPZ with $4.1 million, while Canary Capital's product recorded $3.34 million in outflows. Single-fund days are common; on October 8, XRPZ accounted for the entire $8.17 million inflow.
The token has weighed on fund values. XRP opened Thursday at $1.3314, dropped to an intraday low of $1.2867 after the US producer price release, and recovered above $1.32 in the afternoon. The token fell 14.5% from October 4 and 7.3% during the week of October 5 to 9. Combined net assets of $1.509 billion on October 14 sat $294 million below the $1.803 billion in cumulative inflows. Total net assets represent 1.79% of XRP's market capitalization of $82.52 billion, compared with Bitcoin ETFs' equivalent of 6.35% of Bitcoin's market cap.
The fund lineup is concentrated. The six US spot funds are XRPC, XRP, XRPZ, GXRP, TOXR and XRPR. Bitwise's cumulative inflows reached $688 million, while Canary's XRPC held $493.33 million in cumulative inflows at the end of September against $372.89 million in net assets. Franklin Templeton's fund holds 299.1 million XRP. REX-Osprey's XRPR is the smallest dedicated product at $48.3 million in assets. With Bitwise driving most inflows, a single large redemption could flip the weekly streak negative.
The Volatility Shares XRP ETF (NASDAQ: XRPI) provides futures-based exposure, launched May 22, 2025, and carries a 1.68% expense ratio, against 0.75% for REX-Osprey's XRPR, which holds assets designed to track XRP's spot value and trades on Cboe. XRPI's shares have traded between $5.42 and $17.95 over the past year, and it fell 69.3% over the 12 months through July. Both funds have thin trading volume, with XRPR averaging 46,199 shares a day.
Supply flows dwarf ETF demand. Publicly attributed exchange wallets held 21.98 billion XRP as of October 10, up from 20.30 billion on October 3. The source characterizes exchange deposits as typically preceding selling, and argues that the scale of ETF buying is too small to offset that supply. Thursday's flow data, due after the close, will show whether the streak holds.
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