XRP ETF Hype Nears $1 Billion Milestone As Investors Pull Money Out of Bitcoin ETFs
Spot XRP ETFs have registered notable inflows in June, with total assets under management approaching the $1 billion mark. According to SoSoValue data, the total net assets of XRP ETFs rose to $993.29 million as of June 22. On Monday, the XRP ETF market saw $5.31 million in net inflows, bringing the total influx to $1.45 billion. The total volume on that day was $15.05 million.
New data reveals that XRP ETFs have continued to attract investor funds during most of June. The products recorded inflows of $7.44 million on June 9, $1.19 million on June 10, $2.04 million on June 12, $2.82 million on June 15, $5.30 million on June 16, $2.55 million on June 18, and $5.31 million on June 22. The only significant outflows occurred on June 3, with a net outflow of $5.34 million. Flows remained stagnant on June 2, June 8, June 11, and June 17.
Bitwise’s XRP ETF continued to lead inflows, contributing all of Monday’s $5.31 million inflow. It has drawn $481.57 million in cumulative net inflows as of June 22 and holds net assets worth $305.40 million. The market is also anticipating that BlackRock may file for a spot XRP ETF, given the continued success of these investment products since their debut.
Meanwhile, U.S. spot Bitcoin ETFs remained under heavy downside pressure. On June 22, Bitcoin ETFs saw a $68.18 million net outflow, marking the third consecutive day of outflows. The largest outflow in recent memory occurred on June 2 when investors pulled $519.19 million amid Middle East tensions. Other notable outflows include $483.76 million on June 1, $396.60 million on June 3, and $325.69 million on June 5. Cumulative net outflows from U.S. spot Bitcoin ETFs since May have surged to $6.92 billion, reducing net inflows since inception to $53.33 billion as of June 22.
The data suggests that investors are pulling money out of Bitcoin ETFs and potentially directing a portion of it toward XRP ETFs and other investment products.