Trading in the U.S. saw spot XRP ETFs record a net daily outflow for the first time since their introduction, thereby ending a 36-day streak of continuous inflows. With $40.8 million exiting on Wednesday, the data mirrored a temporary weakening appetite for risk in the crypto asset market, coinciding with significant outflows from Bitcoin and Ethereum ETFs on the same day. Nonetheless, analysts emphasize that the limited scale of these outflows hasn’t disrupted the medium-term trend.
Spot XRP ETF’s First Net Outflow
According to SoSoValue data, five spot XRP ETFs listed in the U.S. reported total net outflows of $40.8 million on Wednesday. The most notable move occurred in the 21Shares-managed TOXR fund, with $47.25 million withdrawn, whereas Canary, Bitwise, and Grayscale had marginal net inflows around $2 million.
Since November, when Canary’s XRPC product initiated its operations, XRP ETFs accumulated a total of $1.25 billion in net inflows until Wednesday. The day of the first net outflow represents a small fraction of this accumulation. Market analysts point to profit-taking following XRP’s recent price spike from $1.8 to $2.4.
BTC Markets crypto analyst Rachael Lucas observed that the outflows constituted less than 3% of total cumulative inflows, indicating maintained demand, especially given low exchange reserves and high transaction volumes. Lucas suggests a renewed pace of inflows could lead to testing the $3 level.
Simultaneous Movements in Bitcoin and Ethereum ETFs
XRP developments coincided with significant outflows in Bitcoin and Ethereum ETFs. Spot Bitcoin ETFs reported a net outflow of $486 million, with major withdrawals of $247.6 million from Fidelity’s FBTC fund and $130 million from BlackRock’s IBIT product, marking over $700 million exiting in two days.
Ethereum ETFs also saw a $98.5 million net outflow on Wednesday, with Grayscale’s ETHE fund accounting for $52 million in departures. This marked the first net outflow day of 2026 for Ethereum ETFs following $457 million in inflows over the year’s initial three trading days.
Lucas attributed the phenomena to post-valuation portfolio rebalancing and deleveraging after Bitcoin reached $94,000. Presto Research’s Min Jung noted investors’ temporary preference for equities, whereas cautious stances in crypto reflected in prices and ETF flows.
