The US cryptocurrency ETF market saw renewed confidence in the trading week from July 6 to July 10, with significant inflows into Bitcoin and Ethereum funds. However, spot XRP ETFs diverged from this trend, recording $7.18 million in net outflows despite the broader recovery, according to crypto analytics platform SoSoValue.
Large single-fund withdrawal ends XRP inflow streak
For nearly two months, XRP funds had attracted steady inflows, yet this trend came to a halt last week. The outflows were driven entirely by a sharp move in a single fund. Investors pulled $7.29 million from the Bitwise XRP ETF, primarily during Wednesday’s trading session on July 8. This marked the most significant capital exit from a single XRP ETF in recent weeks.
Other prominent US XRP fund issuers, including Canary, Franklin, and Grayscale, experienced no net capital movement during the same period, keeping their weekly flows neutral. The only attempt to reverse the net loss came from the 21Shares TOXR product, which recorded a comparatively modest $107,400 inflow.
Mini dictionary: Bitwise is a US-based asset manager specializing in cryptocurrency index and thematic funds, including a range of publicly traded crypto ETFs.
While investors sold heavily in the Bitwise XRP ETF, other providers such as Canary, Franklin, and Grayscale posted zero net flows for the week, highlighting the isolated nature of the XRP movement.
Bitcoin and Ethereum ETFs break losing streaks
In contrast to XRP’s weak performance, institutional investors intensified their accumulation of Bitcoin and Ethereum ETFs. Bitcoin funds attracted $197 million after eight consecutive weeks of outflows, signifying a notable shift in sentiment. Similarly, Ethereum products ended their two-month slide with $84.42 million in fresh inflows.
Investors also allocated funds to products tracking newer altcoins. HYPE-based offerings saw $10.36 million in net purchases, while Solana ETFs drew $930,400.
| ETF/Fund | Net Inflows/Outflows |
|---|---|
| Bitcoin ETFs | +$197 million |
| Ethereum ETFs | +$84.42 million |
| XRP ETFs | -$7.18 million |
| HYPE-based products | +$10.36 million |
| Solana ETFs | +$930,400 |
XRP’s total assets and price remain steady
Despite outflows from the past week, the XRP fund ecosystem retains substantial capitalization. Across the seven spot XRP ETFs approved in the US, total net assets stood at $996.65 million, just under the significant $1 billion threshold. Since their launch, these funds collectively gathered $1.48 billion in net inflows, underscoring persistent investor interest over the longer term.
Amid these developments, the XRP price maintained stability, holding to a narrow trading window between $1.10 and $1.11. Analysts stated that the market’s lack of volatility suggested a period of consolidation, rather than the onset of a prolonged exit.
Market analysts noted that, despite short-term redemptions in the ETF sector, the overall XRP price remained resilient within its recent range near $1.10.
