Ripple“s CEO, Brad Garlinghouse, has marked a significant milestone for XRP exchange-traded funds (ETFs), celebrating 30 consecutive days of inflows exceeding $1 billion. This achievement comes even as the price of XRP drops below the $2 threshold.
Since their launch in November, US spot XRP ETFs have reported over $1 billion in net inflows, maintaining a streak of positive growth without any daily outflows, according to data from SoSoValue. This trend stands in stark contrast to major outflows recorded in both Bitcoin and Ethereum ETFs, which have seen substantial withdrawals amid increased institutional involvement from firms like Vanguard and Bitwise.
Despite the impressive inflows into XRP ETFs, the token”s market performance has been lackluster. Currently, XRP is trading approximately 47% below its all-time high, which was established at $3.65 in July. This price decline has resulted in XRP slipping from the fourth to the fifth position in market capitalization, overtaken by BNB.
Garlinghouse took to social media platform X to highlight this positive trend, emphasizing the significance of the 30-day inflow streak for XRP spot ETFs. “30 straight days of net inflows for XRP Spot ETFs,” he tweeted, underscoring the growing institutional interest in XRP.
Financial experts, including Sygnum Bank CIO Fabian Dori, view the demand for XRP ETFs as a clear indicator of expanding institutional access to cryptocurrencies. Dori argued that ETFs can enhance market structure by simplifying exposure for traditional investors.
The launch of Canary Capital“s XRP ETF on November 13 attracted $250 million in investments, and its CEO projected that first-month flows across XRP ETFs could reach $5 billion. Additionally, Vanguard, which oversees about $11 trillion in assets, initiated crypto ETF trading in December, which includes XRP. Other firms like Bitwise and Grayscale have also introduced XRP ETFs, while listings from the DTCC suggest more products will come from Franklin Templeton, 21Shares, ProShares, and CoinShares.
While the influx of funds into XRP ETFs signifies a positive development for Ripple, it has not translated into price appreciation for the token. The broader cryptocurrency market is experiencing a significant drawdown, with an estimated total decline of around $1.4 trillion.
As the market continues to evolve, the focus remains on how these ETF inflows will impact XRP and whether they can help catalyze a price recovery amid the ongoing fluctuations within the cryptocurrency landscape.
