XRP ETFs Draw $35 Million in Late May as Bitcoin, Ether Funds Lose $2 Billion

US spot cryptocurrency ETFs have become a key channel for institutions allocating capital to digital assets, and their fund flows are often viewed as a gauge of market risk appetite. Bitcoin products command the most assets, but persistent redemption pressure on Grayscale’s legacy GBTC contrasts sharply with inflows into newer products from BlackRock and others.

On Monday, July 20, US spot Bitcoin ETFs recorded combined net outflows of $64 million, driven mainly by $124 million in net outflows from Grayscale’s GBTC. BlackRock’s IBIT still attracted $66 million in net inflows. Over the same period, spot ETFs for Ether, XRP, Solana and Hyperliquid all posted net inflows.

XRP is the native asset of the Ripple ecosystem and the XRP Ledger. U.S. spot ETFs give investors price exposure without requiring them to hold the token directly. Flows into and out of five products from Franklin Templeton, Bitwise, Grayscale, Canary Capital and 21Shares have therefore become an important gauge of institutional demand.

On May 11, 2026, the five ETFs recorded combined net inflows of $25.8 million, the highest since $46 million was logged on January 5, bringing cumulative net inflows to $1.35 billion. The buying coincided with Ripple’s completion of $200 million in financing provided by Neuberger Specialty Finance and a Treasury tokenization settlement pilot with JPMorgan, Mastercard and Ondo Finance.

XRP is the core token of the Ripple ecosystem. U.S. spot XRP ETFs have attracted about $1.1 billion since launching in mid-November 2025, according to SoSoValue. Institutional allocations to XRP have persisted even as flows into Bitcoin ETFs weakened over the same period, pointing to capital rotation within the crypto market.

On February 25, 2026, XRP rose about 6% from $1.34 to $1.42, breaking above $1.40. Bitrue said spot buying volume increased 212% from February 23 to 24 and was more than twice the selling volume. As of April 29, SoSoValue put net ETF inflows for the month at $83.9 million.

Cryptocurrency exchange-traded products allow investors to gain exposure to digital assets through traditional market instruments. Their fund flows are often viewed as a gauge of institutional demand and risk appetite. CoinShares’ weekly report covers such products worldwide, and the swing from net outflows to net inflows pointed to a brief stabilization in market sentiment.

CoinShares reported on April 7, 2026, that global crypto ETPs attracted $224 million in net inflows the previous week, reversing $414 million in net outflows a week earlier. XRP drew $120 million, its strongest weekly inflow since mid-December 2025. Bitcoin attracted $107 million and Solana $35 million, while Ether posted $53 million in outflows.

U.S. spot Bitcoin ETFs allow investors to gain exposure to Bitcoin through regulated funds, and their flows are often viewed as an indicator of institutional demand. Flows weakened for a period after last October, but as market prices stabilize, traditional financial institutions’ allocations to crypto investment products are again drawing attention.

By the end of March, U.S. spot Bitcoin ETFs had recorded cumulative monthly net inflows of $1.56 billion, their first month of net inflows since last October. The latest holdings data also showed that Goldman Sachs had $152 million in XRP ETF exposure, making it one of the largest institutional holders.